Minister for Finance and Revenue Ishaq Dar clarified that Shell Petroleum Company is not closing its business in Pakistan. He said the company is selling its shares to another international investor.
"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 Minister says Pakistan will soon receive one billion dollars loan from China. He said the loan will be obtained under state to state agreement.
Dar said Pakistan repaid one billion dollars of China Development Bank and 300 million dollars of Bank of China this month. He said Pakistan was not charged with any fine for early repayment.
The Minister said after repayment of loans Pakistan received one billion dollars loan from China Development Bank on Friday. He said Pakistan will also receive 300 million dollars from Bank of China in coming few days.
He reiterated the government's resolve to ensure timely payment of all external liabilities.
