Finance Minister Ishaq Dar on Saturday rubbished speculations surrounding Shell’s intent to exit Pakistan, saying that the global energy giant was neither closing its business in the country nor
leaving anyone unemployed.
His comments came after Shell Pakistan Limited (SPL) announced on June 14 that its parent company, Shell Petroleum Company Limited, has notified its intent to sell its shareholding in the Pakistan unit.
“Shell is not closing its business in Pakistan. Any decision that the company takes, it is bound to implement the government’s decisions,” said the finance minister while speaking during a press conference.
Dar said that Shell wanted to sell its shares to a global investor, however, the employees will continue to work.
“Shell company is not taking money abroad by selling its shares. The speculations are baseless,” said Dar, adding that this will “not impact the country.”
The finance czar also said that the shares of Shell will be in Pakistan and will be transferred to someone else’s name. He added that the Government of Pakistan knew about this decision a few months ago.
“The company is selling its shares to many countries including Germany and England. However, the business is not closing neither anyone is being unemployed,” he clarified.
