Oil and Gas Development Company Limited (OGDCL) announced on Wednesday that it has received Rs7.725 billion from Power Holding (Private) Limited (PHL), marking the ninth consecutive monthly interest payment under the government’s circular debt settlement plan.
The update was shared in a notice submitted to the Pakistan Stock Exchange.
According to the company, the total interest amount of Rs92 billion is being repaid through twelve equal monthly instalments starting from July 2025.
“The receipt of this instalment reflects continued progress under the GOP’s initiative to address circular debt in the energy sector.”
Previously, on February 25, OGDCL had confirmed receipt of its eighth consecutive monthly interest payment.
As part of the circular debt settlement strategy in 2024, the government approved Rs82 billion for OGDCL, covering the principal amount of its investment in Privately Placed Term Finance Certificates (PPTFCs) issued by PHL.
In addition, authorities sanctioned repayment of Rs92 billion in interest, to be disbursed in twelve equal instalments beginning July 2025.
OGDCL was incorporated on October 23, 1997, under the Companies Ordinance, 1984 (now the Companies Act, 2017). The company was formed to handle exploration and development of oil and gas resources, along with production and sale activities previously managed by the Oil and Gas Development Corporation, established in 1961.
