Business
Wafi Energy may invest up to $100m in Pakistan in 2–3 years | The Express Tribune
ISLAMABAD:
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday said sustaining macroeconomic stability and strengthening foreign exchange buffers were central to restoring investor confidence, as Wafi Energy Pakistan Ltd indicated it was considering investments of up to $100 million in Pakistan over the next two to three years.
According to a statement issued by the Ministry of Finance, the meeting was held at the Finance Division with a delegation of Wafi Energy Pakistan Ltd led by Javaid Akhtar, Chief Finance Officer of Asyad Group and a board member of Wafi Energy Pakistan Ltd. The delegation also included Zubair Shaikh, Chief Executive Officer, and Zarrar Mahmud, Chief Finance Officer, Wafi Energy Pakistan Ltd. The discussion reviewed the company’s existing operations, its investment outlook and broader issues affecting the oil marketing and energy sector.
The finance minister said sustained macroeconomic stability remained the cornerstone of the government’s economic strategy and was essential for maintaining and deepening investor confidence. He said recent improvements in foreign exchange availability reflected the impact of macroeconomic discipline and reforms, adding that stronger external buffers would allow smoother facilitation of legitimate business transactions, including dividend repatriation and cross-border payments.
Aurangzeb said improving macroeconomic indicators were already translating into greater confidence among domestic and foreign investors and described these trends as fundamental to a healthy investment climate. He added that stronger participation by local investors helped reinforce foreign investment inflows and contributed to broader market confidence.
The meeting also discussed the role of public-private partnership models and structured finance in delivering large-scale infrastructure projects. The finance minister said experiences at the provincial level had demonstrated the potential of such approaches and underlined the need to encourage structured finance solutions and deeper engagement with the banking sector to support infrastructure development.
The Wafi Energy delegation said the company had benefited from improved operating conditions amid greater macroeconomic stability and shared its intention to expand its retail and storage footprint over the coming years. The delegation said the outlook had improved following greater predictability in the operating environment and noted growing interest among international and regional stakeholders in expanding engagement with Pakistan. The delegation briefed the minister on the company’s current operations, saying Wafi Energy Pakistan Ltd operated an extensive nationwide retail network supported by ongoing investments in modernisation and efficiency. It said improved macroeconomic conditions had enabled the company to resume and scale up investment activity following recent business integration.
Wafi Energy Pakistan Ltd informed the minister that it was considering potential investment of up to $100 million over the next two to three years to expand its retail footprint and storage capacity. The planned investments would focus on network growth, infrastructure development and technology-driven improvements aimed at strengthening supply resilience, improving service standards and contributing to long-term growth of Pakistan’s energy sector. The delegation said the company had undertaken significant digitisation initiatives across its operations as part of a broader modernisation strategy, citing efforts to improve transparency, operational efficiency and regulatory compliance.
Industry-related issues were also discussed, with the delegation emphasising the importance of a stable, transparent and predictable policy framework for long-term investment decisions in the oil marketing sector. It said clarity and consistency across regulatory, fiscal and operational domains were critical for sustaining investment momentum in a capital-intensive and highly regulated industry.
The delegation raised fiscal and taxation-related considerations and stressed the need for a clear and consistent framework to support business planning and investment confidence. It said continued engagement between the government and industry stakeholders would help align policy measures with broader reform and investment objectives.
Aurangzeb reaffirmed the government’s commitment to privatisation and outsourcing as a core policy direction, saying the private sector was better positioned to manage and operate commercial assets efficiently. He said recent privatisation initiatives had attracted strong investor interest and that future transactions would follow transparent, competitive and well-publicised processes.
The minister also highlighted digitisation as a national priority, noting uneven progress across sectors. He said firm policy measures were required to accelerate implementation and ensure transparency and regulatory oversight, adding that sector-related matters would be reviewed with relevant ministries and regulators.
Aurangzeb referred to ongoing high-level engagement with international partners, including Saudi Arabia, and said reforms, privatisation, digitisation and investment facilitation formed interconnected pillars of the government’s economic agenda.
Business
MAC entices staff to transform into TikTok live shopping hosts
A major beauty brand is enticing all its UK employees to earn a cut of any sales they drive on TikTok Shop in a bid to cash in on the rapid rise of the influencer-led beauty market.
MAC Cosmetics is kitting out shops with mini studios for its makeup artists to host live shopping shows when it launches on TikTok Shop on April 2.
It says it is the first major beauty brand in the UK to give every member of staff the opportunity to opt in as an affiliate and sell on the social media platform.
Those who become faces of the live channel will be offered a percentage of any sale that they drive on TikTok Shop.
The makeup artists will be encouraged to host tutorials and product demonstrations, with items available to buy directly through the app.
MAC, which is part of the Estee Lauder group of beauty brands, said the first live shopping show will stream from its Carnaby Street store in London.
It is hoping that tapping into social media shoppers will also bring more people into its more than 230 standalone shops and concessions.
TikTok Shop burst onto the UK’s retail scene in 2021 and, in recent years, has become a significant force in the world of e-commerce, reaching millions of people who use the video-sharing app and converting many into shoppers with a few taps.
Many content creators can earn a commission on products that they sell through the app when they co-operate with a brand or retailer.
Major retailers like Marks & Spencer and Sainsbury’s are now selling products on the marketplace alongside thousands of smaller businesses and brands.
The app has particularly been part of a boom for the beauty market, with beauty sales on the platform soaring by 60% year-on-year in 2025, fuelled by trends such as Korean skincare.
But the spread of in-app shopping has also prompted concerns about so-called impulse buying, particularly among younger consumers who are often targeted by influencer-led marketing.
Sara Staniford, the vice president and general manager of MAC in the UK and Ireland, said: “MAC has always been driven by our artists and the communities they create.
“TikTok Shop gives us an exciting new way to celebrate that creativity and connect with beauty lovers in real time.
“It puts our artists exactly where they belong, at the centre of the conversation.”
Business
Coal gasification to boost energy security and cut imports, says G Kishan Reddy – The Times of India
Union coal and mines minister G Kishan Reddy on Sunday said coal gasification will play a critical role in enhancing India’s energy security, reducing import dependence and supporting industrial growth.The renewed push has gained urgency amid the ongoing Middle East conflict, which has led to a surge in global energy prices.Speaking at the Bharat Electricity Summit 2026, the minister described coal gasification as a transformative technology that converts coal into syngas, which can be used to produce cleaner fuels, chemicals, fertilisers and hydrogen, as reported by PTI.He said the approach would enable more efficient and sustainable utilisation of domestic resources while strengthening economic resilience.Reddy highlighted India’s dependence on energy imports, noting that the country imports about 83 per cent of its crude oil requirements, 50 per cent of natural gas and more than 90 per cent of methanol and fertilisers, making energy security a strategic priority.To promote adoption of the technology, the Centre has launched the National Coal Gasification Mission with a target of achieving 100 million tonnes of coal gasification by 2030.“…. An incentive framework of Rs 8,500 crore has been introduced to support public and private sector projects, with several large-scale initiatives already underway and investments exceeding Rs 64,000 crore in the pipeline,” he said.The minister also pointed to advanced technologies such as Underground Coal Gasification, which can help tap previously inaccessible reserves while lowering environmental impact.Calling for greater collaboration, Reddy said coal gasification spans multiple sectors including power, oil and gas and fertilisers, and requires a coordinated ecosystem involving industry, academia, start-ups and research institutions.He reiterated the government’s commitment to streamlined approvals, supportive policies and incentives to encourage early participation and investment.Expressing confidence in India’s potential, the minister said that with innovation, indigenous technology development and coordinated efforts, the country can emerge as a global leader in clean coal technologies while advancing energy security, sustainability and self-reliance.
Business
Sri Lanka increases fuel prices around 25% as Middle East tensions disrupt global oil supplies – The Times of India
Sri Lanka on Sunday raised fuel prices by around 25 per cent, marking the second increase within a week as the ongoing Middle East conflict continues to disrupt global energy markets, news agency PTI reported.The price revision, effective from midnight, comes as tensions triggered by joint US–Israel strikes on Iran and retaliatory action by Tehran have spread across the Gulf region, leading to the closure of the Strait of Hormuz — a key global energy transit route.According to official announcements, the price of auto diesel rose 26.1 per cent from Sri Lankan rupees (LKR) 303 to LKR 382 per litre, while super diesel increased 25.5 per cent from LKR 353 to LKR 443. Petrol 92 octane climbed 25.6 per cent from LKR 317 to LKR 398, petrol 95 octane rose 24.7 per cent from LKR 365 to LKR 455, and kerosene jumped 30.8 per cent from LKR 195 to LKR 255.This is the third fuel price hike since March 1 and comes as the conflict, which has unsettled global oil markets, entered its fourth week.With the latest revision, retail fuel prices in Sri Lanka are set to return close to levels seen during the 2022 economic crisis, when the country declared its first-ever sovereign default since independence in 1948. The unprecedented financial turmoil at the time forced then president Gotabaya Rajapaksa to resign amid widespread civil unrest.The steep increase has sparked concern among transport operators. Non-state bus owners warned that up to 90 per cent of their fleet could be taken off the roads unless fares are revised.“This is the biggest rise of diesel ever. We will not be able to operate buses without an adequate fare revision. We need a minimum 15 per cent fare hike to stay afloat,” Gamunu Wijeratne, chairman of the Lanka Private Bus Owners’ Association, told reporters.The association threatened a nationwide strike if authorities fail to announce a scheduled fare revision.Responding to the developments, the National Transport Commission (NTC) said the latest diesel price increase, when applied to its fare formula, translates into a rise of more than 10 per cent in current bus fares. NTC Director General Nilan Miranda said Cabinet approval is expected on Monday to implement revised fares, according to media reports.Private operators account for about 65–75 per cent of the island nation’s public transport fleet, while the state-run share stands at around 25–35 per cent.Three-wheeler taxi operators, many of whom use petrol vehicles dominated by India’s Bajaj brand, said the price of commonly used petrol had risen to nearly LKR 400 per litre.“Who would want to ride with us at this rate?” a three-wheeler driver said, as quoted news agency PTI.Apart from state-owned Ceylon Petroleum Corporation (CPC), fuel retailing in Sri Lanka is also carried out by Lanka IOC — a subsidiary of IndianOil –as well as China’s Sinopec and Australia’s United Petroleum. Following CPC’s decision, LIOC and Sinopec also revised their retail fuel prices, media reports said.Opposition leaders criticised the government’s tax policy, claiming that authorities collect about LKR 119 per litre of petrol and LKR 93 per litre of diesel in taxes. They demanded that these levies be scrapped to provide relief to consumers.Analysts warned that the fresh fuel price hike could push inflation higher by 5–8 per cent.Earlier, government spokesman and minister Nalinda Jayatissa said that despite the price revisions, the government continues to bear a monthly subsidy burden of around Rs 20 billion by subsidising diesel by Rs 100 per litre and petrol by Rs 20 per litre.He said that without the revision, the state would have faced an additional financial burden of approximately $1.5 billion. Jayatissa urged the public to consume electricity and fuel “mindfully” and warned against hoarding, calling on citizens to report any such attempts.
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