ISLAMABAD: Saudi Arabia’s Wafi Energy Pakistan is weighing a potential investment of up to $100 million over the next two to three years to expand its retail network, upgrade storage facilities and modernize operations in Pakistan, the Finance Division said.
The plan was discussed during a meeting between Finance Minister Muhammad Aurangzeb and a Wafi Energy Pakistan delegation in Islamabad on Monday.
According to the Finance Division, the proposed investment would focus on strengthening retail infrastructure, improving storage capacity and introducing technology-driven initiatives, including digitization.
Wafi Energy, an affiliate of Saudi Arabia’s Asyad Group, became the majority shareholder of Shell Pakistan Limited in November 2024.
Officials said the delegation expressed confidence in Pakistan’s economic outlook and stressed the need for a stable and transparent policy framework to support long-term investment in the energy sector.
Aurangzeb reaffirmed the government’s commitment to economic reforms, privatization, digitization and public-private partnerships, adding that continued engagement with international partners would help strengthen investor confidence and foreign investment flows.
The finance minister also highlighted Pakistan’s ongoing strategic engagement with Saudi Arabia, noting that such cooperation provides opportunities to deepen economic ties.
Wafi Energy currently operates retail outlets in Karachi and Rawalpindi and has introduced sustainability initiatives, including plastic-infused construction projects. The company recently signed an agreement with Hyundai’s manufacturing partner in Pakistan to supply premium lubricants.
