Interview with Mr. Kalim Siddiqui, former Managing Director of Pakistan State Oil
PAGE: Tell me something about yourself, please:
Kalim Siddiqui: I am a former Managing Director of Pakistan State Oil and former President of Byco Petroleum. I am holding a Bachelor in Chemical Engineering from University of Bradford in England (UK) and a Masters in Chemistry from Karachi University, has broad-based, global experience by working in USA, UK, Australia, Vietnam & Pakistan for over 36 years.
I am an enthusiastic and highly accomplished Executive with 36 years’ of extensive fuels/lubricants business expertise in marketing, sales, operations management and system re-engineering in oil industry by running supply chain, streamlining processes, hunting for new business and growing top producing accounts; I have experience of developed and emerging markets/cultures. I am a collaborative Leader with aptitude to achieve change, excite the organization, infuse new ideas and deliver dramatic, bottom-line outcomes; recognize to accomplish multiple customer-specific priorities with competence, exemplary follow-up and interpersonal abilities; I am highly expert in high-level market segments, top-down selling and vertical market mastery.
I have served as Chairman Oil Companies Advisory Committee (OCAC) and has held directorships in various reputable companies, & professional and educational institutes including Pakistan Refinery Limited, Pak-Arab Pipeline Company, Asia Petroleum Limited, Pak-Grease Manufacturing Company Limited, Petroleum Institute of Pakistan, Pakistan Advertisers Society and Lahore University of Management Sciences. Before joining PSO in 2001, I have served in Caltex (now Chevron) for over 20 years locally as well as internationally. International assignments were located in the USA, Australia and Vietnam. In a longer spell of over 20 years in Caltex, I have dealt with fuels, lubes and LPG in all aspects like product development, product engineering, supply chain, operations, production/manufacturing and sales/marketing, My three years of work in the UK was with Howden Engineering Company, Burmah-Castrol refinery, North West Water Authority and A.P.V Company before coming back to Pakistan in 1980.
PAGE: What is your perspective about oil prices (petroleum prices) in Pakistan after the peace agreement between Iran and USA?
Kalim Siddiqui: My perspective is that petroleum prices in Pakistan are likely to remain stable or decrease slightly after the Iran-USA peace agreement. Reduced geopolitical tensions lower the risk of oil supply disruptions and generally put downward pressure on global crude oil prices.
However, the extent of any price reduction in Pakistan will also depend on factors such as the rupee-dollar exchange rate, government taxes and levies, and overall energy policy. If the agreement remains durable, Pakistan should benefit from a lower oil import bill and improved stability.
PAGE: How would you comment on the energy policy of Pakistan?
Kalim Siddiqui: Pakistan’s energy policy has made progress in expanding electricity generation and promoting renewable energy, but it still faces major challenges such as high dependence on imported fuels, circular debt, transmission losses, and high electricity tariffs. The country needs a more balanced energy mix that prioritizes domestic resources, renewables, and energy efficiency.
In my view, the key priority should be reducing reliance on imported oil and gas while accelerating investments in solar, wind, hydropower, and grid modernization. A stable, long-term energy policy focused on affordability, sustainability, and energy security is essential for Pakistan’s economic growth and competitiveness.
PAGE: Where do you see Pakistan in terms of using alternative energy resources?
Kalim Siddiqui: Pakistan has significant potential in alternative energy, particularly solar, wind, and hydropower. The country has seen growing investment in solar energy in recent years, and I believe it is moving in the right direction, although the transition is still at an early stage compared to many developed economies.
Over the next decade, Pakistan could become a regional leader in renewable energy if it continues to support clean-energy investments, modernize its grid infrastructure, and reduce policy uncertainty. The key challenge is turning this potential into large-scale, reliable, and affordable energy production.
PAGE: What is your standpoint regarding energy prices in Pakistan for industrial consumers after the presentation of Federal Budget for the next fiscal?
Kalim Siddiqui: My view is that energy prices for industrial consumers in Pakistan are likely to remain a key competitiveness issue after the new federal budget. While the government may seek to provide targeted relief to support exports and industrial growth, fiscal constraints and the need to manage the energy sector’s circular debt limit the scope for substantial tariff reductions.
For sustainable industrial growth, Pakistan needs not only competitive energy prices but also reliable supply and long-term pricing predictability. Any measures that lower energy costs for productive sectors while improving efficiency in the power sector would positively impact investment, exports, and overall economic activity.