Oil sector: Minister outlines key investment opportunities
KARACHI: Federal Minister for Petroleum Ali Pervaiz Malik outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy in a meeting with the Overseas Investors Chamber of Commerce and Industry (OICCI).
OICCI held a detailed interactive session with Ali Pervaiz Malik, attended by senior business leaders from both local and multinational companies. Discussions focused on Pakistan's energy priorities and the path to long-term economic stability.
The Minister reaffirmed the government's commitment to structural reforms, accelerated policy execution, and enhanced industry engagement. He cited recent resolution of refinery-sector challenges as a positive example of collaborative progress.
During the meeting, the Minister outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy and invited the foreign companies for investment. He further highlighted the recent FDI-related successes in attracting foreign investment in the mining sector, which aim to unlock the country's untapped natural resources and drive future exports and industrial diversification.
Yousaf Hussain, President of OICCI and CEO of Faysal Bank, emphasised the importance of policy consistency, technocratic execution, and a joint, collaborative roadmap to achieve deep-rooted economic stability and sustainable growth.
He noted that closer engagement between the government, OICCI, and industry in both policy formulation and execution will be essential to delivering results and strengthening investor confidence.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
12 hours ago
- Express Tribune
Govt unveils maritime chamber
Listen to article Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, has announced the establishment of the Maritime Chamber of Commerce and Industry (MCCI) to promote the blue economy and enhance environmental sustainability across Pakistan's maritime sector. Speaking at the Pakistan Business Council Forum on Saturday, according to an official statement, the minister stressed the urgent need to align maritime development with sustainability goals, particularly in the context of increasing climate-related challenges in the Global South. He pointed out that Pakistan's coastal regions are particularly vulnerable to rising sea levels, extreme weather events, and environmental degradation, underscoring the necessity of a dedicated platform to drive eco-conscious policymaking. The minister stated that the MCCI will offer a specialised institutional framework to unify stakeholders from across the maritime spectrum, including ports, shipping, logistics, fisheries, and marine services. "This chamber will not only support investment and innovation in the maritime sector but also prioritise sustainability at ports, promote green technologies, and foster carbon reduction strategies," said Chaudhry, as per the statement. He reiterated the government's commitment to public-private partnerships and invited collaboration with environmental experts, industry leaders, and civil society to ensure that maritime growth supports both national and international climate objectives. Chaudhry also reassured the business community that their concerns are being acknowledged and addressed, citing active coordination with the chief minister of Sindh to ensure cohesive and integrated action across all levels of governance. Additionally, the maritime minister outlined the ministry's strategic roadmap for modernising Pakistan's port infrastructure. The focus areas include digitalisation, efficient cargo handling, and embedding environmental sustainability in port operations. The Pakistan Business Council expressed strong support for the initiative, recognising the establishment of the MCCI as a significant step toward building a climate-resilient and economically dynamic maritime economy, the statement added.
Business Recorder
16 hours ago
- Business Recorder
Gold prices decline further
KARACHI: Gold prices continued to fall on Saturday as world market further lost momentum, sliding under $3,300 per ounce, traders said. Local gold prices went down by Rs1,400 per tola and Rs1,200 per 10 grams following a decline in world bullion rates by $14 to sell at $3,288 per ounce. The plunge dragged down gold prices to Rs347,200 per tola and Rs297,668 per 10 grams, All Pakistan Sarafa Gems and Jewelers Association said. Domestic silver prices also reduced by Rs24 to Rs3,456 per tola and Rs2,962 per 10 grams. The international market traded silver for $33 per ounce, the association said. Copyright Business Recorder, 2025
Business Recorder
16 hours ago
- Business Recorder
May: FBR's provisional collection over Rs935bn
ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected over and above Rs 935 billion in May 2025 against the assigned target of Rs1110 billion, reducing shortfall to Rs175 billion. Till now, the FBR has collected Rs10,244 billion during July-May (2024-25) period against the target of Rs 11,240 billion, further reducing the shortfall to Rs 1016 billion, according to updated revenue collection figures of the FBR late Saturday night. Copyright Business Recorder, 2025
