During a press conference, Financial Minister Muhammad Ishaq Dar clarified that Shell has no plans to close its operations in Pakistan and assured employees that there would be no layoffs. He dismissed speculation and media reports creating unwarranted concerns about Shell’s future in the country. Dar emphasized that any decisions made by Shell would adhere to Pakistan’s regulations and disclosed that the company is considering selling shares to another foreign investor. He highlighted that the new investor’s nationality would not affect Pakistan’s economy, as both investors would bring foreign direct investment into the country.
Dar further revealed that the government had been aware of Shell’s plans for several months, indicating that there was no cause for concern. He also mentioned that the new investor might choose to retain the name “Shell” based on their preference. Overall, Dar’s statement aimed to provide reassurance and dispel speculations surrounding Shell’s operations in Pakistan, emphasizing the commitment to continuity and adherence to regulatory frameworks.
