Wafi Energy Pakistan Considers $100 Million Investment to Boost Retail and Storage Infrastructure

Major Investment Planned for Pakistan's Energy Sector

Wafi Energy Pakistan Ltd, a prominent Saudi-based energy company, is reportedly considering a substantial investment of up to $100 million in Pakistan over the next two to three years. This strategic move aims to significantly expand the company's retail network, bolster storage capacity, and upgrade its overall infrastructure within the country.

The announcement was made during a recent meeting between a delegation from Wafi Energy Pakistan and Pakistan's Finance Minister, Muhammad Aurangzeb, in Islamabad. The delegation was led by Javaid Akhtar, Chief Finance Officer of Asyad Group and a board member of Wafi Energy Pakistan, alongside Zubair Shaikh, CEO, and Zarrar Mahmud, CFO of Wafi Energy Pakistan.

Strategic Expansion and Operational Enhancements

The planned investment by Wafi Energy Pakistan is focused on several key areas to strengthen the country's energy sector. These include:

• Network Growth: Expanding the company's extensive retail footprint across Pakistan.
• Storage Capacity: Increasing the country's fuel storage capabilities to enhance supply resilience.
• Infrastructure Development: Upgrading existing infrastructure and developing new facilities.
• Technology-Driven Improvements: Implementing advanced technologies to modernize operations and improve service standards.

These initiatives are expected to contribute to the long-term growth of Pakistan's energy sector and improve overall service delivery.

Confidence in Pakistan's Economic Outlook

The potential investment underscores Wafi Energy Pakistan's growing confidence in Pakistan's macroeconomic stability and an improved operating environment. Wafi Energy Pakistan, formerly known as Shell Pakistan Limited until its name change in January 2025, is a subsidiary of Wafi Energy Holding, a Saudi Arabian oil and gas company. The company has also highlighted its ongoing digitization initiatives aimed at enhancing transparency, efficiency, and regulatory compliance within its operations.

Government's Commitment to Investor Confidence

In response to the investment consideration, Finance Minister Muhammad Aurangzeb reaffirmed the Pakistani government's dedication to maintaining macroeconomic stability, strengthening foreign exchange reserves, and fostering investor confidence. He emphasized that the government is committed to privatization, outsourcing, and digitization, recognizing the private sector's crucial role in efficiently managing commercial assets. The Minister also noted that improving economic indicators are already translating into greater confidence among both domestic and foreign investors.