KARACHI: Wafi Energy Pakistan Ltd is considering investing as much as $100 million in Pakistan over the next two to three years as improving macroeconomic conditions encourage the oil marketer to expand its retail and storage footprint in the country.
The potential investment was outlined during a meeting in Islamabad between a Wafi delegation and Finance Minister Muhammad Aurangzeb at the Finance Division. The delegation was led by Javaid Akhtar, chief finance officer of Asyad Group and a Wafi board member, and included Wafi Chief Executive Officer Zubair Shaikh and Chief Finance Officer Zarrar Mahmud.
Wafi told the minister that it had benefited from more stable operating conditions and greater predictability in the economic environment, which had allowed the company to resume and scale up investment activity following recent business integration. The company said it plans to expand its nationwide retail network and increase storage capacity, backed by technology upgrades aimed at improving efficiency and supply resilience.
The delegation said the proposed investment would focus on network growth, infrastructure development and digital modernisation, with the goal of strengthening fuel supply, raising service standards and supporting the long-term growth of Pakistan’s energy sector. Wafi added that it had already rolled out significant digitisation initiatives across its operations to improve transparency, efficiency and regulatory compliance.
At the same time, the company flagged concerns about the operating environment for oil marketing firms, stressing the need for a stable, transparent and predictable policy framework. It also highlighted fiscal and taxation issues, saying clearer and more consistent rules were essential for long-term planning in a capital-intensive and highly regulated industry.
Aurangzeb, for his part, said the government remained committed to sustaining macroeconomic stability, strengthening foreign-exchange buffers and boosting investor confidence. He said improvements in foreign-exchange availability were a result of broader fiscal discipline and reforms, and would make it easier for companies to carry out legitimate transactions, including dividend repatriation and cross-border payments.
The minister said better macroeconomic indicators were already lifting confidence among domestic and foreign investors, adding that greater participation by local investors would help attract more foreign inflows.
He also underscored the importance of public-private partnerships and structured finance in delivering large infrastructure projects, citing successful provincial-level examples and calling for deeper engagement with the banking sector.
Aurangzeb reiterated the government’s commitment to privatisation and outsourcing, saying the private sector was better placed to manage commercial assets efficiently. He said recent privatisation initiatives had drawn strong investor interest and pledged that future transactions would be transparent and competitive.
On digitisation, the minister acknowledged uneven progress across the energy sector and said the government would work with relevant ministries and regulators to accelerate implementation. He also referred to ongoing strategic engagement with international partners, including Saudi Arabia, as part of efforts to deepen economic and investment ties.Aurangzeb said issues raised by Wafi during the meeting would be examined through appropriate institutional mechanisms.
