Islamabad, December 10, 2025 – The Government of Pakistan is pleased to announce the successful completion of PKR 659.6 billion Power Holding Limited (PHL) settlements, marking a significant milestone in the country’s economic reforms.
The settlement comprises PKR 399.6 billion redemption of PES I & II, executed through a National Debt Market (NDM) off-market transaction, which is Pakistan’s largest-ever debt market transaction. Additionally, PKR 259.7 billion was settled in various syndicated financing facilities.
This landmark transaction reflects the strength of Pakistan’s capital market ecosystem and its capability to handle large-scale strategic financial operations. It is a core component of the PKR 1,225 billion Circular Debt Reduction Plan, demonstrating strong institutional confidence in Pakistan’s economic reforms and government initiatives.
The Government remains committed to structural energy sector reforms, long-term fiscal stabilization, and accelerating reform-driven growth. This transaction highlights the depth of Pakistan’s capital and Islamic finance ecosystem, paving the way for further investment and economic growth.
The successful completion of this transaction is a testament to the Government’s dedication to improving the country’s economic landscape and fostering a stable and prosperous future for Pakistan.
