Federal Minister for Finance Ishaq Dar has clarified that Shell Petroleum Company is not closing its business in Pakistan rather it is selling its shares to another international investor, reported the 24NewsHD TV channel.
Refuting speculations surrounding the giant oil company, the minister said 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 addressing a press conference in Islamabad on Saturday.
Finance Minister 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."
He said Pakistan repaid one billion US dollars to the China Development Bank and $300 million to the Bank of China this month. He said Pakistan was not charged with any fine for early repayment.
The Minister said after the repayment of loans Pakistan received a $1 billion loan from China Development Bank on Friday.
He said Pakistan will also receive 300 million dollars from the Bank of China in the coming few days.
He reiterated the government's resolve to ensure timely payment of all external liabilities.