By SKM
February 2, 2026
ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday reaffirmed the government’s commitment to sustaining macroeconomic stability, strengthening foreign exchange reserves and improving investor confidence, as Wafi Energy Pakistan Ltd signalled a potential investment of up to $100 million in the country over the next two to three years.
The finance minister made these remarks during a meeting with a delegation of Wafi Energy Pakistan Ltd at the Finance Division. The delegation was led by Javaid Akhtar, Chief Finance Officer of Asyad Group and board member of Wafi Energy Pakistan, and included Zubair Shaikh, Chief Executive Officer, and Zarrar Mahmud, Chief Finance Officer.
Wafi Energy Pakistan Limited, formerly known as Shell Pakistan Limited, is a publicly listed company based in Karachi, Pakistan. It is majority-owned by Wafi Energy Holding Limited, a Saudi Arabian company, and serves as the exclusive brand licensee for Shell in the country.
Recently, Wafi Energy acquired a majority stake in Shell Pakistan Limited, marking a significant expansion of its energy business. This acquisition aims to enhance Wafi Energy’s competitive edge and increase its global presence in the energy sector.
During the meeting, Aurangzeb said that macroeconomic stability remains the cornerstone of the government’s economic strategy and is essential for restoring and sustaining investor confidence. He noted that improved availability of foreign exchange is the result of broader fiscal discipline and reforms, which are helping facilitate legitimate business transactions, including dividend repatriation and cross-border payments.
The finance minister said improving economic indicators are already translating into increased confidence among domestic and foreign investors, adding that stronger participation by local investors plays a critical role in attracting foreign capital.
Discussions also covered the role of public-private partnerships and structured finance in delivering large-scale infrastructure projects. Aurangzeb said successful models implemented at the provincial level demonstrate the potential of such arrangements and stressed the need for greater engagement with the banking sector to support infrastructure development.
The delegation informed the finance minister that Wafi Energy Pakistan has benefited from improved operating conditions amid greater macroeconomic stability and shared plans to expand its retail and storage footprint as part of its growth strategy. The company indicated it is considering investments of up to $100 million over the next two to three years, focusing on network expansion, storage capacity, infrastructure development and technology-driven improvements.
Wafi Energy Pakistan operates a nationwide retail network and has resumed investment activity following recent business integration, supported by improved predictability in the operating environment. The delegation also highlighted ongoing digitisation initiatives aimed at enhancing efficiency, transparency and regulatory compliance.
The delegation raised issues related to the operating environment of the oil marketing sector, stressing the importance of a stable, transparent and predictable policy framework to support long-term investment in a capital-intensive and highly regulated industry. Fiscal and taxation-related matters were also discussed, with an emphasis on clarity and consistency to support business planning.
Aurangzeb reiterated the government’s commitment to privatisation and outsourcing, describing the private sector as better positioned to manage commercial assets efficiently. He said future privatisation transactions would follow transparent and competitive processes in line with the prime minister’s directives.
The finance minister also highlighted digitisation as a national priority, noting that uneven progress across sectors has required firm policy measures to accelerate implementation and strengthen oversight. He assured the delegation that issues raised would be reviewed in coordination with relevant ministries and regulators.
Referring to ongoing strategic engagement with international partners, including Saudi Arabia, Aurangzeb said such engagements are helping strengthen economic cooperation and investment ties. He reaffirmed that reforms, privatisation, digitisation and investment facilitation remain key pillars of the government’s economic agenda. Ends
