Pakistan Petroleum Limited (PPL) has successfully made a payment of Rs. 42 billion to the Government of Pakistan as part of the Lease Extension Bonus, following the execution of the Sui Development and Production Lease (D&PL) and the Sui Petroleum Concession Agreement (PCA), according to a filing by the company at the Pakistan Stock Exchange (PSX) on Monday.
“In accordance with the terms of the executed agreements, the Company has made payment of Rs. 42 billion against the Lease Extension Bonus,” read PPL’s notice sent to the PSX.
This payment has been made under the terms of the agreements with the Federal Government of Pakistan and the Government of Balochistan. The funds will be transmitted onward to the provincial government as per the terms of the agreement.
This follows an earlier notification by PPL regarding the execution of the D&PL, which ensures the continued operations of the Sui Gas Field, a critical resource for the country. The payment reflects the company’s commitment to its agreements and its role in facilitating regional economic development through its energy resources.
