Oil and Gas Development Company Limited (OGDCL) said on Wednesday it had received Rs 7.725 billion from Power Holding (Private) Limited (PHL), its ninth consecutive monthly interest payment under the government’s circular debt settlement plan. The OGDCL disclosed in a notice to the Pakistan Stock Exchange today. The total interest amount of Rs92 billion is […]
Circular
Power Division denies Rs 224 billion circular debt spike reports
The Ministry of Energy (Power Division) on Monday rejected media reports claiming that the circular debt flow increased by Rs224 billion during the period from Jul-Nov 25, despite the bank refinancing agreement signed in September 2025, declaring it as “misleading, devoid of factual data linking, up-to-date data and without seeking the Power Division version”. In […]
FCC declares EOBI circular issued in 2022 ineffective
The Federal Constitutional Court of Pakistan has held that no administrative circular can override or limit a law passed by Parliament or any of its schedules. The ruling came in a significant decision concerning the Employees’ Old-Age Benefits Institution (EOBI), marking a major development in pension rights for thousands of workers. A three-member bench headed […]
ECC okays Rs 200bn power subsidy to keep circular debt within IMF-agreed limits
As the government projects an alarming increase of Rs491 billion in circular debt within six months, a cabinet body on Thursday approved Rs200 billion power subsidies to keep the flow of the debt within limits agreed with the International Monetary Fund. The Economic Coordination Committee of the Cabinet that took the decision also approved Rs11.5 […]
SC orders revival of Karachi Circular Railway in a month
The Supreme Court on Thursday ordered the removal of encroachments from railways land in 15 days and to restore the Karachi Circular Railway within a month. During a hearing at the Supreme Court’s Karachi registry, the railways secretary told the court than 10 acres of land has been taken back from squatters. Justice Gulzar Ahmed […]