Competition commission approves Saudi group Asyad’s acquisition of Shell Pakistan 

Petrol station workers wearing facemasks wait for customers next to petrol pumps in Islamabad, Pakistan, on April 22, 2020. (AFP/File)
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Updated 07 July 2024
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Competition commission approves Saudi group Asyad’s acquisition of Shell Pakistan 

  • Shell’s parent company announced exit from Pakistan last year after selling 77.42 percent of shares to Asyad’s affiliate Wafi Energy
  • Competition Commission of Pakistan chairman says acquisition to elevate service standards in country’s retail fuel supply chain 

ISLAMABAD: The Competition Commission of Pakistan (CCP) on Saturday approved Saudi Group Asyad Holding’s acquisition of Shell Pakistan through UAE-based Wafi Energy Holding Limited, saying the move would boost the country’s retail oil sector. 

Shell Petroleum Company announced its exit from Pakistan in June 2023 with the sale of 77.42 percent shareholding in the local business to Wafi Energy. The move came after Shell made several announcements about its global operations and after Shell Pakistan suffered losses in 2022 due to exchange rates, the devaluation of the Pakistani rupee, and overdue receivables. 

Wafi Energy is a wholly-owned affiliate of Asyad Holding Group, a fuel retailer in Saudi Arabia. Shell Pakistan’s operations include more than 600 mobility sites, 10 fuel terminals, a lubricant oil blending plant and a 26 percent shareholding in Pak-Arab Pipeline Company Limited.

“The Competition Commission of Pakistan (CCP) has approved the acquisition under Section 11 of the Competition Act, 2010, thus solidifying the said transaction to boost the retail oil sector in Pakistan,” the CCP said in a press release. 

The CCP said Shell Pakistan maintains a “substantial business footprint” in the retail supply of motor fuels and lubricants across Pakistan. It also noted that Wafi Energy specializes in managing and operating fuel stations in Saudi Arabia.

The commission said its first assessment phase identified retail fuel, vehicle lubricants and industrial lubricants as the relevant product markets. 

“It was also revealed that Shell Pakistan has distinct shares in all three relevant markets but that will remain unchanged post-transaction,” the CCP said. 

“The analysis further confirmed that Wafi Energy Holding Limited will not gain a dominant position in the relevant markets even after attaining the direct control of Shell Pakistan.”

 While signing the order, CCP Chairman Dr. Kabir Ahmed Sidhu said the move is expected to boost competition by elevating service standards in the retail fuel supply chain and contribute immensely to flourishing Pakistani markets.
 


Pakistan expands pilgrim travel system for Iran, Iraq with licenses to 67 new operators

Updated 16 December 2025
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Pakistan expands pilgrim travel system for Iran, Iraq with licenses to 67 new operators

  • New system requires all Iraq-Iran pilgrimages to be organized by licensed groups under state oversight
  • Long-running “Salar” model relied on informal caravan leaders, leading to overstays and missing pilgrims

ISLAMABAD: Pakistan has issued registration certificates to 67 additional licensed pilgrimage companies, expanding a tightly regulated travel system designed to curb overstays, undocumented migration and security risks linked to religious travel to Iran and Iraq, the ministry of religious affairs said on Tuesday.

The move is part of a broader overhaul of Pakistan’s pilgrim management framework after authorities confirmed that tens of thousands of Pakistani pilgrims had overstayed or gone missing abroad over the past decade, raising concerns with host governments and triggering diplomatic pressure on Islamabad to tighten oversight.

“The dream of safe travel for pilgrims to Iran and Iraq through better facilities and a transparent mechanism is set to be realized,” the religious affairs ministry said in a statement, quoting Federal Minister for Religious Affairs Sardar Muhammad Yousaf, who announced that 67 new Ziyarat Group Organizers had been registered.

Pakistan’s government has dismantled the decades-old “Salar” system, under which informal caravan leaders arranged pilgrimages with limited state oversight. The model was blamed for weak documentation, poor accountability and widespread overstays, particularly during peak pilgrimage seasons. 

Under the new framework, only licensed companies are allowed to organize pilgrimages, and they are held directly responsible for ensuring pilgrims return within approved timelines.

Authorities say pilgrimages to Iran and Iraq will be conducted exclusively under the new system from January 2026, marking a full transition to regulated travel. The religion ministry said it has now completed registration of 24 operators in the first phase and 67 more in the second, with remaining applicants urged to complete documentation to obtain licenses.

The religious affairs ministry said a digital management system is being developed with the National Information Technology Board to monitor pilgrim movements and operator compliance, while a licensed ferry operator has also secured approval to explore future sea travel options.

The overhaul has been accompanied by tighter coordination with host countries. Earlier this month, Pakistan and Iraq agreed to share verified pilgrim data and restrict entry to travelers cleared under the new system, following talks between interior ministers in Islamabad and Baghdad. Pakistan has also barred overland pilgrim travel for major religious events, citing security risks in its southwestern Balochistan province, meaning travel to Iran and Iraq is now limited to approved air routes.

Officials say the reforms are aimed at balancing facilitation with accountability, as tens of thousands of Pakistani pilgrims travel annually to key Shia shrines, including Karbala and Najaf in Iraq and Mashhad and Qom in Iran. Travel peaks during religious occasions such as Arbaeen, when millions of worshippers converge on Iraq, placing heavy logistical and security demands on regional authorities.

The government says the new system is intended to restore confidence among host countries while ensuring safer, more transparent travel for Pakistani pilgrims.