Islamabad June 17 2023: Shell is not winding-up its buisness in Pakistan, Minister for Finance and Revenue Senator Muhammad Ishaq Dar on Saturday while addressing a press conference.
Finance minister said the Company was intended to divert its share to another foreign direct investor, which would have no impact on its business operations and not it was shifting its capital abroad.
The new investor is interested to operate under the brand of Shell as per our knowledge says finance minister.
He informed that Shell is not only operating in Pakistan but it is also running its business in many other countries of the world and intended for revising its business plan.
He said that the government was also aware about all the programs of the Company and it was legally bound to take the government into confidence. Shell is selling its shares to another international investor and its business will continue and no one will be deprived from livelihood, he concluded.
Earlier on June 14 2023, Shell Pakistan informed that its parent company has decided to exit from Pakistan by selling Shell Pakistan Limited.
Shell also informed that this announcement does not impact SPL’s current business operations, which continue. SPL remains committed to continuing to deliver safe and reliable operations for our customers and partners.
“We will invest in the models that work — those with the highest returns that play to our strengths,” Chief Executive Officer Wael Sawan said in a statement.
