Saudi Arabia’s leading energy company, Wafi Energy Pakistan Limited, on Monday signaled plans to invest up to $100 million in Pakistan over the next two to three years.
According to sources, this development emerged during a high-level meeting on Monday between Federal Finance Minister Muhammad Aurangzeb and a delegation from Wafi Energy Pakistan Limited. The meeting was held at the Finance Division, with the Wafi Energy delegation led by Javed Akhtar (Chief Financial Officer, Asid Group and Board Member, Wafi Energy Pakistan Limited), alongside Zubair Sheikh (Chief Executive Officer) and Zarar Mahmood (Chief Financial Officer, Wafi Energy Pakistan Limited).
The meeting provided an opportunity to review the company’s current operations, future investment opportunities, and matters related to the oil marketing and energy sectors. Officials noted that improvements in foreign exchange availability are a direct result of broader macroeconomic discipline and reforms, and strengthening external financial reserves will facilitate smooth execution of legitimate business transactions, including profit repatriation and cross-border payments.
During the meeting, the Finance Minister emphasized that sustained macroeconomic stability is the cornerstone of the government’s economic strategy and is critical to maintaining investor confidence. He observed that improvements in foreign exchange availability are a direct result of broader economic discipline and reforms. Aurangzeb noted that the improving overall economic indicators are already boosting confidence among both domestic and foreign investors.
He highlighted that this progress reflects the fundamental elements of a favorable investment environment and stressed that participation of local investors plays a key role in further promoting foreign investment. He also emphasized the importance of a clear, consistent, and predictable framework to enhance business planning and investor confidence.
Furthermore, he observed that continuous engagement and consultation between the government and industrial stakeholders will be beneficial to align government policies with broader investment and reform objectives. The Finance Minister reaffirmed the government’s commitment to maintaining privatization and outsourcing as core policy directions and stressed that the private sector is better suited to manage commercial assets more efficiently and effectively.
