Pakistan Expresses Gratitude to Kuwait for Extending Oil Credit Facility

Report By Muhammad Furqan

Pakistan has extended its heartfelt appreciation to the State of Kuwait for continuing its vital oil credit facility for an additional two years, a move seen as a significant boost for the country’s energy security and economic stability.

During a high-level meeting on Wednesday, Federal Minister for Petroleum, Ali Pervaiz Malik, thanked Kuwait Petroleum Corporation (KPC) for its timely and generous support. The minister met with Kuwaiti Ambassador Nassar Abdulrahman J Almutairi in Islamabad, highlighting the longstanding friendship and mutual trust between the two nations.

A Strategic Partnership Strengthened by Energy Cooperation

Minister Malik praised Kuwait’s proactive role in supporting Pakistan’s energy requirements, stating that such cooperation has been instrumental in driving the structural reforms initiated by Prime Minister Shehbaz Sharif.

“Kuwait’s continued flexibility and trust in Pakistan are deeply valued. This extension supports our reform agenda and contributes directly to economic stability,” Malik said.

Ambassador Reaffirms Kuwait’s Confidence in Pakistan

Ambassador Almutairi commended Pakistan’s recent progress in economic reforms, investment facilitation, and regional engagement. He reaffirmed Kuwait’s intention to strengthen bilateral ties, particularly in the energy, oil exploration, and trade sectors.

“We are confident in Pakistan’s economic direction under Prime Minister Shehbaz Sharif and remain committed to expanding cooperation,” the ambassador noted.

Focus on Energy and Offshore Exploration

Malik also welcomed Kuwait Foreign Petroleum Exploration Company (KUFPEC)’s growing interest in offshore exploration opportunities in Pakistan, a move expected to enhance foreign investment and boost indigenous energy production.

He emphasized Pakistan’s deep-rooted commitment to fostering stronger relationships with Gulf Cooperation Council (GCC) nations, especially in energy and trade partnerships.

“Prime Minister Shehbaz Sharif holds great respect and affection for the Amir and Crown Prince of Kuwait and their people,” Malik added.

PSO and KPC Collaboration Grows Stronger

The minister further highlighted the expanding collaboration between Pakistan State Oil (PSO) and Kuwait Petroleum Corporation, noting that this partnership is evolving into a cornerstone of Pakistan’s energy supply chain.

Looking Ahead

The meeting concluded with both sides expressing a shared determination to deepen bilateral cooperation and explore new avenues for partnership in energy, trade, and development.