The Oil and Gas Development Company Limited (OGDCL) has reported to have received the second instalment payment of interest by Power Holding ( Private) Limited (PHL ) as per the government circular Debt Plan.
In a disclosure to the Pakistan Stock Exchange (PSX) and the London Stock Exchange (LSE), the state owned energy company announced the receipt of the amount. The installment comes as part of a 12-installment plan of Rs. 92 billion in interest payment PHL will be supposed to pay over an equal monthly payment period beginning in July 2025.
Debt resolution in the energy sector Progress
OGDCL says this most recent inflow shows the gradual progress of the government policy to relieve the country of long-holding financial logjams in the power and petroleum sectors. This is considered as a significant move towards enhancing liquidity and unbroken energy supplies by the industry watchers.
Read more: OGDCL Boosts Oil Production at Khyber Pakhtunkhwa Well
It also highlighted that the maintenance of an on-time payment will boost investor confidence in the continuation of the government in fixing inefficiencies of the system.
As OGDCL gets this second instalment of dues there is no doubt the positive energy of the Circular Debt Plan is on and it spells financial prudence as well as gradual stabilisation of the energy sector in Pakistan.
