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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.
Mumbai: Hyundai Motor India Limited on Monday reported a solid performance in the third quarter (Q3) of FY26, with its consolidated net profit rising 6.3 per cent year-on-year to Rs 1,234.4 crore. The growth was supported by steady demand in the domestic market, strong export numbers and higher sales during the festive season, the company said in its stock exchange filing.
Revenue from operations during the quarter increased 8 percent compared to last year to Rs 17,973.5 crore. Operating performance also improved, with EBITDA rising 7.6 percent year-on-year to Rs 2,018.3 crore. The EBITDA margin stood at 11.2 percent, remaining broadly stable compared to the same period last financial year.
The company said domestic demand during the quarter benefited from GST 2.0-related advantages and festive-season momentum.
Wholesale volumes rose 5 per cent sequentially, supported by strong retail sales across key models.
Exports played an important role in overall growth, with export volumes jumping 21 per cent year-on-year in the December quarter.
Exports contributed around 25 per cent to Hyundai Motor India’s total sales during the period.
On the product front, the Creta once again emerged as a key growth driver. The SUV reclaimed its position as India’s best-selling SUV and achieved its highest-ever annual sales of more than 2 lakh units in calendar year 2025.
The newly launched Venue also saw healthy demand, with nearly 80,000 bookings so far. The company said first-time buyers accounted for 48 per cent of the total bookings for the model.
For the nine months ended December 31, 2025, Hyundai Motor India reported EBITDA of Rs 6,632.5 crore, marking a year-on-year growth of 3.3 per cent.
EBITDA margins expanded to 12.8 per cent despite higher costs related to capacity stabilisation and commodity prices. Net profit for the nine-month period rose to Rs 4,175.9 crore.
Commenting on the results, Managing Director and CEO Tarun Garg said the company delivered healthy growth in volumes, revenue and profitability during the quarter.
He added that an improved sales mix and disciplined cost management helped support margins on a year-to-date basis.
Garg also highlighted strong sales in January 2026 as a positive sign for the rest of the financial year.
Indian industry has welcomed lower tariffs, but experts caution against celebration until details are clearer.
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MCX Silver Jumps 6% To Hit Upper Circuit After 46% Crash; Can India–US Deal Spark A Sustained Rally?
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Silver prices staged a sharp rebound on Tuesday after an intense phase of liquidation that followed the abrupt unwinding of a record-setting rally
Silver Rates Surge Today
Silver Rates Today: Silver prices staged a sharp rebound on Tuesday after an intense phase of liquidation that followed the abrupt unwinding of a record-setting rally. The earlier sell-off had pulled prices down more than 46% from their peak in just three sessions, highlighting the extreme volatility in the precious metals space. Gold prices also recovered alongside silver.
On the MCX, silver hit the 6% upper circuit at Rs 2,50,436 per kg on February 3, while MCX gold climbed 3% to Rs 1,48,310 per 10 grams.
A key macro catalyst emerged after US President Donald Trump announced a trade agreement with India. The deal lowers US tariffs on Indian goods to 18% from 50% in exchange for India halting Russian oil purchases and easing certain trade barriers. The development added a fresh geopolitical layer to already jittery commodity markets.
Gold mirrored silver’s recovery in global trade. Spot gold rose as much as 4.2% to move above $4,855 an ounce after sliding 4.8% in the previous session. That decline had extended Friday’s slump, the steepest in over a decade.
Earlier, on January 30, spot gold had tumbled nearly 10% in its sharpest single-day fall since 1983, dragging prices back below the $5,000-an-ounce mark that had been crossed only days before and erasing a sizable portion of the year’s gains.
The rebound extended beyond gold and silver. Spot platinum advanced 3% to $2,183.64 an ounce after touching a record $2,918.80 on January 26, while palladium rose 2.7% to $1,765.75, joining the broader recovery across precious metals.
What drove the rebound after the crash?
Domestic sentiment got a lift from the India–US trade deal, while investors also reassessed geopolitical risks, currency movements and the outlook for US monetary leadership. Strong buying from Chinese retail investors ahead of the Lunar New Year further supported demand, although China’s markets are set to shut for over a week from February 16, temporarily sidelining a key source of consumption.
Traders are also watching developments involving Iran after Trump signalled that talks on a potential new nuclear agreement could begin soon. Any diplomatic progress could reduce gold’s safe-haven appeal and cap gains.
The earlier sell-off in bullion was initially triggered by Trump’s nomination of Kevin Warsh as the next Federal Reserve chair, which strengthened the US dollar and pressured metals. The slide intensified after CME Group raised margin requirements for precious metals futures, forcing leveraged traders to unwind positions quickly. A stronger dollar combined with higher trading costs led to a sharp liquidity squeeze, accelerating the fall.
Will the rally sustain?
Hareesh V, Head of Commodity Research at Geojit Investments, said longer-term drivers such as geopolitical tensions, central bank buying and macro uncertainty remain supportive for precious metals.
He noted that the previous correction was magnified by extremely overbought conditions after gold and silver had surged to record highs, with silver rallying more than 60% in a month and gold over 20%. Profit-booking snowballed into panic selling as liquidity thinned and volatility spiked.
“The violent drop was more of a technical correction than a deterioration in core fundamentals,” he said, suggesting that the broader structural support for the metals remains intact.
February 03, 2026, 11:07 IST
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