OGDCL receives Rs7.25b under circular debt plan

Oil and Gas Development Company Limited (OGDCL) has received the ninth installment of interest payments under the government’s circular debt settlement mechanism, reported 24News HD TV Channel.

In a letter addressed to the Pakistan Stock Exchange (PSX) on Wednesday, the company said it received Rs7.25 billion from Power Holding (Private) Limited as part of the agreed repayment structure.

The payment is one of twelve equal monthly installments linked to a total interest amount of Rs92 billion, scheduled to be repaid starting July 2025.

The company said the receipt reflects progress under the government’s plan to address circular debt in the energy sector through structured repayments.

The payments are being made under a mechanism approved by the Government of Pakistan, with Power Holding acting as the settlement entity for the interest component.

Reporter: Ashraf Khan