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Oil and Gas Development Company Limited (OGDCL) announced on August 4, 2025, the receipt of the first interest payment of Rs 7.725 billion from Power Holding (Private) Limited (PHL). This payment is part of a total Rs 92 billion interest amount due under Term Finance Certificates. The total is to be repaid in twelve equal monthly installments, commencing in July 2025, under a Government of Pakistan approved mechanism for circular debt settlement.
| Date | 4 Aug 2025 |
| Time | 07:00:04 |
| Category | Miscellaneous |
| ID | 8029T |
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OIL & GAS DEVELOPMENT COMPANY LIMITED (BOARD SECRETARIAT) |
CS04-08 (PSX/LSE/SECP)
August 04, 2025
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The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Road, |
London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS.
Tel: (44) 20 7334 8907 |
Dear Sir,
With reference to our earlier disclosure dated June 27, 2024, we are pleased to inform that, as part of the circular debt settlement plan, Oil and Gas Development Company Limited (OGDCL) has received the first interest payment of Rs 7.725 billion from Power Holding (Private) Limited (PHL), pursuant to the Government of Pakistan (GOP) approved mechanism.
As previously disclosed, the total interest amount of Rs 92 billion is to be repaid in twelve equal monthly installments, commencing July 2025. The receipt of this initial payment reflects progress under the GOP's initiative to address circular debt in the energy sector.
The above information is submitted in compliance of Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members, please.
Yours sincerely,
(Wasim Ahmad)
Company Secretary
Copy:
Executive Director/HOD,
Offsite-II Department, Supervision Division,
Securities & Exchange Commission of Pakistan,63,
NIC Building, Jinnah Avenue, Blue Area,
Islamabad.
