Islamabad June 14 2024: Economic Coordination Committee (ECC) approved Repayment of PKR 82 billion finance facility extended to PHL by OGDCL, according to press release issue yesterday.
The summary was forwarded by Power division. It was decided that OGDCL would also clear its liabilities towards GoP from the funds received through this arrangement. However, the quantum of liabilities is not clear.
Government has also raised its dividend payments from OGDC to PKR 24 per shar (PKR 62 billion) for fiscal year 2024 from PKR 10.34 per share (PKR 30 billion) this year, in a separate document.
The Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division yesterday.
The meeting was attended by the Minister for Industries & Production Rana Tanveer Hussain, Minister for Petroleum Mr. Musadik Masood Malik, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister of State for Finance & Revenue Mr. Ali Pervez Malik, Federal Secretaries, and other senior officials of the relevant ministries.
