Oil and Gas Development Company Limited (PSX: OGDC) has received the first interest payment of Rs. 7.725 billion from Power Holding (Private) Limited (PHL), marking the beginning of the government-approved circular debt settlement plan.
According to a stock filing, the payment is the first of twelve equal monthly installments totaling Rs. 92 billion in interest and is scheduled to be repaid starting July 2025.
The company said the payment reflects progress under the Government of Pakistan’s initiative to resolve mounting circular debt in the energy sector.