ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) has received third instalment of Rs7.73 billion from Power Holding (Private) Limited (PHL) as part of the government’s ongoing circular debt settlement plan.
The OGDCL also informed the Pakistan Stock Exchange (PSX) through a letter in this regard.
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The payment represents one of twelve equal monthly instalments under the government-approved mechanism to repay Rs92 billion in interest owed to OGDCL. The instalment plan, which began in July 2025, aims to settle long-standing energy sector liabilities.
“As part of the circular debt settlement plan, OGDCL has received Rs7.725 billion as interest payment from Power Holding (Private) Limited, pursuant to the Government of Pakistan’s approved mechanism,” the company stated.
This latest receipt follows previous instalments received under the same framework. In August, OGDCL reported a similar Rs7.73 billion payment from PHL. Earlier, in June 2024, the government cleared Rs82 billion of principal owed to OGDCL for its investment in Privately Placed Term Finance Certificates (PPTFCs) issued by PHL.
The company said the regular payments demonstrate continued progress under the government’s plan to reduce the circular debt burden affecting the country’s energy sector.
