Shell Pak suffers financial loss.

KARACHI -- The Board of Directors of Shell Pakistan Limited (SPL) announced financial results for the year ended December 31st, 2019. The company posted a loss after tax of PKR 1,485 million for 2019 compared to the loss of PKR1,102 million in 2018. The oil industry felt the impact of some of the continued macro-economic challenges faced by the country, primarily owing to the unprecedented devaluation of the rupee; declining fuels market; volatility in the international oil prices and increased minimum tax rates applicable, which has had a significant impact on SPLs financial...