3 days ago
Minister says Pakistan State Oil to expand into renewable energy
KARACHI: Pakistan State Oil (PSO), the country's largest fuel supplier, is preparing to diversify its operations into renewable energy and emerging sectors of the energy market, Petroleum Minister Ali Pervaiz Malik said during a high-level visit to the company's Karachi headquarters on Thursday.
The move signals a strategic shift in Pakistan's state-owned energy sector as it seeks to modernize infrastructure, reduce emissions and align with global trends toward sustainability.
Malik's visit, part of a broader government outreach to key industry stakeholders, comes amid the government's continuing efforts to reform Pakistan's fossil fuel-reliant energy mix and enhance long-term resilience.
'The government is fully committed to steering Pakistan's energy sector toward greater resilience, sustainability and innovation,' Malik said during meetings with PSO leadership and board members. 'Enhancing fuel quality, reducing emissions and advancing the transition to clean energy are central to this vision.'
During the visit, PSO's top management briefed the minister on the company's performance, supply chain stability and automation initiatives.
Officials also outlined plans to modernize PSO's infrastructure and develop forward-looking strategies to enter the renewable energy space, though no specific projects were announced.
Malik praised PSO's role in maintaining reliable fuel supplies nationwide and pledged the government's full support in helping the company address operational challenges.
He emphasized that policy alignment and cross-sector coordination would be key to creating a more efficient and consumer-focused energy ecosystem.
The minister also met with representatives of the Oil Companies Advisory Committee (OCAC) and the Petroleum Dealers Association, where discussions focused on regulatory bottlenecks, profit margins and broader sectoral reforms.
He assured participants that their concerns would be addressed through structured engagement.
'In the best interest of the country, all stakeholders must collaborate with a shared commitment to progress,' Malik said. 'Together, we can build a modern energy sector that meets the evolving needs of our nation.'
Pakistan has faced recurring energy crises in recent years, with high fuel import bills, inconsistent power supplies and delayed infrastructure upgrades straining the economy. While some private and semi-public entities have begun pivoting to renewables, PSO's potential entry into the sector is expected to mark one of the first serious moves by a major state player.
