The Oil and Gas Development Company Limited (OGDCL) on Tuesday announced that it has received the second installment of interest payment from Power Holding (Private) Limited (PHL) under the government’s circular debt settlement plan.
In a disclosure to the Pakistan Stock Exchange (PSX) and London Stock Exchange (LSE), the state-owned oil and gas company said it received Rs. 7.725 billion as part of a 12-installment schedule approved by the Government of Pakistan.
The payment is the second tranche of a total Rs. 92 billion in interest that PHL is required to repay to OGDCL in equal monthly installments beginning July 2025.
According to the company, the receipt reflects continued progress under the government’s initiative to tackle the country’s chronic circular debt in the energy sector.
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