Oil & Gas Development Company Limited (OGDCL) has announced the receipt of Rs. 8.3 billion from Uch Power (Private) Limited, marking another significant step in the government’s ongoing efforts to address circular debt in Pakistan’s energy sector.
According to a notice sent to the Pakistan Stock Exchange and the London Stock Exchange, the payment was made towards the settlement of outstanding receivables owed to OGDCL.
The company stated that this transaction is part of a government initiative to resolve the persistent circular debt issue that has long plagued the country’s energy supply chain.
This latest payment follows a previous announcement by OGDCL regarding the receipt of Rs. 41.8 billion from Uch Power, further highlighting the government’s commitment to clearing dues and improving liquidity across the sector.
