OGDCL receives sixth installment of Rs7.725 billion as part of circular debt settlement plan
OGDCL received Rs7.725 billion, the sixth of twelve installments, as part of Pakistan's circular debt settlement plan.Summary
The Oil and Gas Development Company Limited (OGDCL) has received Rs 7.725 billion as the sixth installment in a plan to settle Pakistan’s circular debt. This payment is one of twelve equal monthly installments from Power Holding Limited (PHL), initiated under the Government of Pakistan’s (GoP) circular debt settlement mechanism, with repayments beginning in July 2025. The total interest amount of Rs 92 billion will be repaid through these monthly installments.
Previously, OGDCL received Rs41.8 billion from Uch Power (Private) Limited in December, also as part of the circular debt settlement. In June 2024, the federal government approved an Rs 82 billion payment to OGDCL, covering the principal amount of its investment in Privately Placed Term Finance Certificates (PPTFC) issued by PHL, alongside the Rs 92 billion interest repayment plan.
OGDCL was incorporated in 1997, evolving from the Oil and Gas Development Corporation founded in 1961, and is responsible for exploring, developing, and producing oil and gas resources within Pakistan.
(Source：Pakistan Today)