Govt releases 9th installment to OGDCL under circular debt settlement
Business
Government provides OGDCL ninth installment of Rs 7.72 billion under circular debt plan, aiming to ensure financial stability and transparency in the energy sector.
KARACHI (Dunya News) - The Government of Pakistan has released the ninth installment to OGDCL under the Circular Debt Settlement Plan.
A payment of Rs 7.725 billion was made through Power Holding Private Limited. OGDCL has submitted details of Term Finance Certificates to both the Pakistan Stock Exchange and the London Stock Exchange.
According to the government letter, the payment was made under an approved mechanism for settling circular debts. It stated that interest on Rs 92 billion of circular debt will be paid in 12 monthly installments, with payments beginning on July 25.
Experts say this step is a significant move toward maintaining fiscal stability and enhancing transparency in Pakistan’s energy sector.
