KARACHI: Federal Petroleum Minister Ali Pervaiz Malik has held talks with business and industry leaders in Karachi to discuss energy security, investment and reforms in Pakistan’s petroleum sector.

The minister met senior representatives of the Overseas Investors Chamber of Commerce and Industry (OICCI) and the management of Pakistan State Oil (PSO) during separate meetings on Friday.

The discussions covered developments in the petroleum industry, investment opportunities and measures to strengthen the country’s energy security.

Government outlines petroleum reforms

During his visit to OICCI, Malik met chamber officials, industry representatives and foreign investors.

Media representatives also attended the meeting and took part in discussions about reforms and investment opportunities.

The minister outlined government plans to increase exploration activity and modernise Pakistan’s refining infrastructure.

He also highlighted initiatives involving bonded storage and strategic petroleum reserves as part of efforts to strengthen energy supplies.

“Our objective is to build a petroleum sector that is more competitive, investment-oriented and responsive to Pakistan’s long-term energy requirements,” Malik said.

He added that the government was pursuing reforms across exploration, refining and downstream markets.

Investors call for policy stability

OICCI members shared their views on the challenges facing the petroleum industry.

They stressed the importance of consistent government policies, a predictable tax system, transparency and adequate security.

Business leaders said these factors would play an important role in improving investor confidence and encouraging long-term investment.

OICCI President Yousaf Hussain welcomed the minister’s engagement with the business community.

He said the petroleum sector remained important to Pakistan’s economic activity and investment environment.

OICCI seeks predictable business environment

OICCI Chief Executive and Secretary General M. Abdul Aleem said foreign investors need greater certainty before making long-term investment decisions.

“For foreign investors, predictability in the regulatory and commercial environment is essential for long-term investment decisions,” he said.

He called for continued government-industry dialogue and faster resolution of outstanding issues affecting businesses.

According to Aleem, stronger coordination between the government and industry could improve investor confidence and support further investment in the petroleum sector.

Focus remains on energy security

The government is seeking greater investment across Pakistan’s petroleum value chain, including exploration, refining and downstream operations.

The minister said reforms should make the sector more competitive while meeting the country’s long-term energy needs.

OICCI also reaffirmed its willingness to continue working with the government and other stakeholders.

The chamber said it would support policies aimed at attracting investment, improving energy security and promoting sustainable growth in Pakistan.