Ali Pervaiz Malik shares Pakistan’s action plan to cut oil imports in Kuwait visit

By: HUM News Kuwait Correspondent Muhammad Imran

KUWAIT CITY: Federal Minister for Petroleum Ali Pervaiz Malik visited Kuwait this week, meeting with top Kuwaiti officials and attending a dinner hosted by prominent businessman Shamshad Khan Tanoli, where he addressed the Pakistani community living in the country.

During his address, Malik highlighted Pakistan’s efforts to reduce dependence on imported fuel and increase reliance on local petroleum resources, aiming to shield the country from global price fluctuations. “Steps are being taken to increase local fuel production to mitigate the impact of volatile international petroleum prices,” he said.

The minister noted that the Kuwait Foreign Petroleum Exploration Company has invested $1 billion over the past two decades in exploring Pakistan’s oil reserves, and Turkish and Azerbaijani companies are also establishing operations in the country for similar purposes. “After twenty years, they are now going to drill for offshore oil reserves,” Malik said in a conversation in Kuwait.

Addressing domestic economic challenges, Malik explained the rationale behind the proposed increase in the petroleum levy. “The decision to increase the levy is subject to cabinet approval. Pakistan has incurred a loss of Rs 1,800 billion in the form of circular debts. The idea behind the proposal is to recover these losses by collecting resources in this way,” he said.

At the dinner, attended by leading figures of the Pakistani community in Kuwait, Malik stressed the importance of economic sustainability. “Sustainability in the country will come only by fixing the economy; otherwise, the cycle of losses will continue,” he said.

Referring to support from friendly countries, Malik mentioned that Saudi Arabia, Kuwait, and others have encouraged Pakistan to implement internal reforms. “The warm welcome from the Kuwaiti Minister of Petroleum and the invitation to visit shows their willingness to support Pakistan,” he said.

Highlighting the longstanding energy partnership, Malik said that Pakistan has purchased around $90 billion worth of diesel from Kuwait through Pakistan State Oil (PSO). “We want to celebrate fifty years of our business partnership. The Kuwaiti Minister of Petroleum has accepted our invitation to visit Pakistan,” he said.

During meetings with Kuwaiti officials, Malik discussed ways to enhance opportunities for Pakistani businesses and professionals in Kuwait. He noted that the Minister for Overseas Pakistanis is also scheduled to visit Kuwait this month. The dinner concluded with participants offering suggestions to strengthen Pakistani investment in Kuwait and improve support for the community.