REG - Oil and Gas Devt Co - RECEIPT OF FIRST INTEREST PAYMENT UNDER TFCs

Oil And Gas Development CoAnnouncement

04/08/2025 07:00

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RNS Number : 8029T  Oil and Gas Development Company Ltd  04 August 2025

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

August 04, 2025

 The General Manager,               London Stock Exchange Plc.,

 Pakistan Stock Exchange Limited,   10 Paternoster Square,

Stock Exchange Building,

                                  London EC4M 7LS.
 Stock Exchange Road,

Karachi-74000, Pakistan.

                                    Tel: (44) 20 7334 8907

 

Subject:   RECEIPT OF FIRST INTEREST PAYMENT UNDER TERM FINANCE CERTIFICATES (TFCs) BY POWER HOLDING LIMITED

Dear Sir,

 

With reference to our earlier disclosure dated June 27, 2024, we are pleased
to inform that, as part of the circular debt settlement plan, Oil and Gas
Development Company Limited (OGDCL) has received the first interest payment of
Rs 7.725 billion from Power Holding (Private) Limited (PHL), pursuant to the
Government of Pakistan (GOP) approved mechanism.

 

As previously disclosed, the total interest amount of Rs 92 billion is to be
repaid in twelve equal monthly installments, commencing July 2025. The receipt
of this initial payment reflects progress under the GOP's initiative to
address circular debt in the energy sector.

 

The above information is submitted in compliance of Section 96 of the
Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination
amongst your members, please.

 

 

Yours sincerely,

 
 
 

(Wasim Ahmad)

Company Secretary

 

 
 

 

Copy:

 

Executive Director/HOD,

Offsite-II Department, Supervision Division,

Securities & Exchange Commission of Pakistan,63,

NIC Building, Jinnah Avenue, Blue Area,

Islamabad.

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