ISLAMABAD: Pakistan has achieved a landmark milestone in its energy sector and financial markets, completing PKR 659.6 billion worth of Pakistan Hydrocarbon Limited (PHL) settlements, Federal Minister for Power Sardar Awais Ahmed Khan Leghari announced on Tuesday.
The settlements comprise PKR 399.6 billion for the redemption of Power Enhancement Schemes (PES I & II), executed through the National Depository Mechanism (NDM) as an off-market transaction via capital markets—marking the largest-ever debt market transaction in Pakistan’s history. In addition, PKR 259.7 billion was settled across various syndicated financing facilities.
Highlighting the significance of the NDM transaction, Minister Leghari described it as a “true reflection of the strength of our capital market ecosystem and its capability to manage large-scale strategic financial operations.”
This landmark development is a crucial component of the PKR 1,225 billion Circular Debt Reduction Plan, signaling strong institutional confidence in Pakistan’s ongoing economic reforms and government initiatives. It also underscores the depth and resilience of the country’s capital and Islamic finance ecosystem.
Minister Leghari reaffirmed the government’s commitment to structural energy sector reforms and long-term fiscal stabilization, emphasizing continued engagement with all stakeholders to drive reform-led growth and accelerate economic stability.
This historic financial maneuver not only stabilizes the energy sector but also reinforces Pakistan’s position in the capital markets, opening avenues for further strategic financing and reform-oriented investments.
