Saudi Arabia’s Asyad Holding Group has acquired 77.42% of Shell Pakistan Limited through Wafi Energy Holding Limited, a UAE-based firm. The Competition Commission of Pakistan (CCP) approved this acquisition under the Competition Act, of 2010, aiming to enhance the digital transformation of the retail oil sector in Pakistan. This move aligns with the government’s strategy to attract foreign investment and boost market competition through digital advancements.
The CCP confirmed that Wafi Energy Holding Limited will not dominate the market despite the acquisition. The government sees this development as a way to elevate service standards, foster economic growth, and promote digital innovation in the fuel supply chain.
