UK backs deeper cooperation with Pakistan in energy and minerals sectors

ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik met with British High Commissioner Jane Marriott on Tuesday to review the evolving regional situation, its impact on global energy markets, and prospects for strengthening bilateral cooperation in Pakistan’s energy and mineral sectors.

The discussion focused on regional instability and its implications for petroleum supply chains, price fluctuations, and energy security, particularly in Pakistan’s import-dependent sector. Both sides examined strategies to mitigate external shocks and ensure uninterrupted supply for industrial and domestic consumers.

Marriott praised Pakistan’s diplomatic efforts in facilitating dialogue among key stakeholders, including the United States and Iran, during heightened regional tensions. She highlighted Islamabad’s proactive mediation as a stabilising factor and commended the government for efficiently managing the petroleum supply chain, ensuring fuel availability and avoiding disruptions that could have affected businesses and households.

Malik reaffirmed Pakistan’s commitment to peace and stability through dialogue, noting that the government has taken timely domestic measures to maintain continuous energy supplies. “We do not want to repeat the path of populism, as witnessed in 2022, which can undo hard-earned economic achievements,” he said, stressing that supply continuity was a higher priority than short-term price adjustments.

The minister acknowledged the role of international partners in supporting Pakistan during the crisis. He thanked Saudi Arabia, the United Arab Emirates, and Oman for facilitating petroleum deliveries and recalled Qatar’s provision of LNG at approximately $10 per unit during periods when global prices neared $30. Qatar also renegotiated contracts to offer relief to the energy sector amid extreme market volatility.

Highlighting domestic contributions, Malik praised local exploration and production companies for maintaining output and supporting national energy security. He noted that fertiliser prices in Pakistan remain roughly one-third of those in neighbouring countries, illustrating the advantages of indigenous gas production. The minister further emphasized that targeted subsidies continue to protect vulnerable populations while ensuring adequate energy for industrial and agricultural consumers.

The British high commissioner underlined the importance of long-term cooperation and technical collaboration, referencing joint work between the British Geological Survey and the Geological Survey of Pakistan. Malik welcomed continued UK support and discussed opportunities for regulatory and institutional strengthening, including capacity building at the Oil and Gas Regulatory Authority (OGRA).

Both sides agreed to pursue deeper bilateral engagement through technical cooperation and institutional partnerships, with a focus on energy security, investment facilitation, and sustainable development in Pakistan’s energy and minerals sectors.