Oil marketing association urges SIFC to take action against groups sabotaging foreign investment in Pakistan

The Oil Marketing Association of Pakistan (OMAP) has called on the Special Investment Facilitation Council (SIFC) to take strong action against individuals and groups allegedly attempting to undermine foreign direct investment (FDI) in the country. 

In a letter addressed to Lt Gen Sarfraz Ahmed, national coordinator at SIFC, OMAP criticized the circulation of misleading and malicious advertisements targeting the petroleum sector, which the association claims are aimed at creating confusion and hindering legitimate investment in Pakistan.

OMAP pointed out that these actions were designed to sow doubt, provoke uncertainty, and damage the reputation of institutions operating within Pakistan’s legal and regulatory framework. 

The association emphasised the importance of fostering a supportive environment for investors through friendly taxation policies and safeguarding existing investments from fraudulent legal actions. It noted that such practices not only deter new investments but also risk driving away those who have already committed significant capital to Pakistan.

The association acknowledged the challenge of attracting FDI as long as local investors are hesitant to invest and noted the need for a more investor-friendly environment to facilitate FDI agreements, which are currently under negotiation by several OMAP members with foreign partners. It also highlighted major FDI examples in the petroleum sector, such as Total Parco, Gunvor, Shell, and Aramco, among others.

OMAP proposed that the SIFC adopt a firm stance against those sabotaging FDI efforts, urging the council to expose and reject these campaigns to preserve Pakistan’s reputation as a stable, transparent, and investment-friendly destination. 

The association stressed the importance of collaboration between regulatory authorities, industry stakeholders, and facilitation centres like the SIFC to protect investments and ensure sustainable economic growth. By rejecting anti-investment agendas, OMAP believes Pakistan can reinforce its credibility and attract high-quality foreign investment, creating a solid foundation for long-term prosperity and job creation.