The implications of this transaction are huge for Pakistan. It marks the beginning of a new relationship between the two nations and a positive step towards economic growth, energy security and affordability. Pakistani officials, including the Prime Minister, view this development as a game changer and a win-win for the people.
Interestingly enough, the selling of shares by Shell is actually good news for the investors. It is a sign that the country is dependent on more sources than just Arab or American. The possible impact of Russian oil on the investment market is certainly a factor here and this move could help the investors sell their shares in profit rather than loss in the future. In a policy budget speech, Ishaq Dar invites foreign oil companies to keep local reserves as the Government intends to remove taxes before 30th June 2023.
