The federal government’s ownership in Oil and Gas Development Company Limited (OGDCL) has increased to 77.53 percent after the transfer of more than 432 million shares previously held by the company’s Employees Empowerment Trust.
In separate disclosures to the Pakistan Stock Exchange (PSX) and the London Stock Exchange (LSE), OGDCL said 432,189,039 ordinary shares were transferred to the Government of Pakistan in compliance with the Supreme Court’s ruling on the Benazir Employees Stock Option Scheme (BESOS).
The shares were transferred to the President of the Islamic Republic of Pakistan on July 8, 2026, at a transfer price of Rs. 0 per share, the company said.
Following the transaction, the government’s direct shareholding in OGDCL increased from 67.48 percent to 77.53 percent, taking its total holding to 3.334 billion shares.
The transfer implements the apex court’s decision regarding the BESOS-related shares and further strengthens the government’s majority ownership in Pakistan’s largest oil and gas exploration company.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
