Retail & storage network: Wafi Energy plans USD100m investment

ISLAMABAD: The Wafi Energy Pakistan Ltd has signalled plans to invest up to USD100 million over the next two to three years to expand its retail and storage network, while urging the government to ensure a clear and predictable fiscal framework to boost investor confidence.

Federal Minister for Finance and Revenue Muhammad Aurangzeb on Monday reaffirmed the government’s commitment to sustaining macroeconomic stability, strengthening foreign exchange buffers, and enhancing investor confidence during a meeting with a delegation of Wafi Energy Pakistan Ltd.

Official statement issued by the Finance Division noted that the meeting was held with the Wafi Energy Pakistan Ltd delegation led by Javaid Akhtar, Chief Finance Officer, Asyad Group (Board Member), Wafi Energy Pakistan Ltd, and included Zubair Shaikh, Chief Executive Officer, and Zarrar Mahmud, Chief Finance Officer, Wafi Energy Pakistan Ltd.

The interaction provided an opportunity to review the company’s current operations, future investment outlook, and matters relevant to the oil marketing and energy sector.

Finance Minister emphasized that sustained macroeconomic stability remains the cornerstone of the Government’s economic strategy and is essential for maintaining investor confidence.

He noted that improvements in foreign exchange availability are a direct outcome of broader macroeconomic discipline and reforms, and that strengthening external buffers will enable smoother facilitation of legitimate business transactions, including dividend repatriation and cross-border payments.

Finance Minister observed that improving macroeconomic indicators are already translating into greater confidence among both domestic and foreign investors, and underscored that such developments represent fundamental elements of a healthy investment climate. He highlighted that local investor participation plays an important role in further encouraging foreign investment inflows.

The discussion also covered the role of public-private partnership models and structured finance as effective mechanisms for delivering large-scale infrastructure projects.

The Finance Minister noted that successful experiences at the provincial level demonstrate the potential of such models and emphasized the need to further encourage structured finance solutions and stronger engagement with the banking sector to support infrastructure development.

The delegation informed the Finance Minister that Wafi Energy Pakistan Ltd has benefited from improved operating conditions amid greater macroeconomic stability and shared its intention to expand its retail and storage footprint over the coming years as part of a broader growth strategy.

The delegation reiterated its confidence in Pakistan’s economic outlook and highlighted growing interest among international and regional stakeholders in expanding engagement with Pakistan.

The delegation briefed the Finance Minister on Wafi Energy Pakistan Ltd’s current operations in the country and shared that the company operates an extensive nationwide retail network, supported by ongoing investments in modernization and efficiency. It was noted that improved macroeconomic conditions and greater predictability in the operating environment have enabled the company to resume and scale up investment activity following recent business integration.

The delegation further informed that Wafi Energy Pakistan Ltd is considering potential investment of up to USD100 million over the next two to three years to expand its retail footprint and storage capacity, with a focus on network growth, infrastructure development, and technology-driven improvements.

The delegation stated that these investments are aimed at strengthening supply resilience, improving service standards, and contributing to long-term growth of the energy sector in Pakistan.

The delegation highlighted that Wafi Energy Pakistan Ltd has already undertaken significant digitization initiatives across its operations as part of its broader modernization strategy, reflecting its commitment to transparency, efficiency, and regulatory compliance.

The delegation also brought up matters related to the operating environment of the oil marketing sector and emphasized the importance of a stable, transparent, and predictable policy framework to support long-term investment decisions. They noted that clarity and consistency across regulatory, fiscal, and operational domains remain important for sustaining investment momentum in a capital-intensive and highly regulated industry.

In addition, the delegation drew attention to certain fiscal and taxation-related considerations and underscored the importance of a clear, consistent, and predictable framework to enhance business planning and investment confidence. They further observed that continued engagement between the Government and industry stakeholders would be beneficial in aligning policy measures with broader investment and reform objectives.

Finance Minister reaffirmed the government’s commitment to privatization and outsourcing as a core policy direction, emphasizing that the private sector is better positioned to manage and operate commercial assets efficiently.

He noted that recent privatization initiatives have demonstrated strong investor interest and emphasized that future transactions will follow transparent, competitive, and well-publicized processes in line with the Prime Minister’s directives.

Highlighting the importance of digitization as a key national priority, the Finance Minister acknowledged that some industry players are ahead of others in adopting digitization initiatives.

He noted that uneven progress across the sector has necessitated firm policy measures to accelerate implementation and ensure transparency, efficiency, and regulatory oversight, and stated that sector-related matters would be reviewed in coordination with the relevant ministries, divisions, and regulators.

Finance Minister also referred to ongoing high-level strategic engagement with international partners, including Saudi Arabia, noting that such engagements provide valuable platforms for strengthening economic cooperation and investment ties.

He reiterated that reforms, privatization, digitization, and investment facilitation form interconnected pillars of the government’s broader economic agenda and assured the delegation that issues raised during the meeting would be examined through appropriate institutional mechanisms to support long-term growth and investor confidence.

Copyright Business Recorder, 2026