ISLAMABAD: Oil and Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production firm, has received the third interest payment of Rs7.73 billion from Power Holding (Private) Limited (PHL) under the government’s circular debt settlement plan.
In a notice to the Pakistan Stock Exchange (PSX) on Tuesday, OGDC stated the instalment is part of twelve equal monthly payments of Rs7.725 billion each, amounting to Rs92 billion in total interest, scheduled to be repaid from July 2025.
The company confirmed steady progress under the government’s initiative to curb circular debt in the energy sector. Last year, the government cleared Rs82 billion in principal dues to OGDC, while the firm waived Rs72 billion in liquidated damages on government directives.
