Karachi April 18, 2025: In a significant move towards resolving the country’s longstanding power sector circular debt, the Central Power Purchasing Agency Guarantee Limited (CPPA-G) has signed a term sheet with a consortium of banks to raise PKR 1.25 trillion. This financial arrangement is expected to benefit major energy sector stakeholders, with Pakistan State Oil (PSO) among the primary recipients.
According to data compiled by Optimus Capital Management, PSO is expected to receive approximately PKR 66.2 billion (PKR 141.1/share) as per June 2024 position as part of receivables from SNGPL trade debts, linked to RLNG supplies to power producers including NPPMCL, QATPL, and GENCO-III (Nandipur). These payments are part of broader liabilities owed to PSO, stemming from RLNG trade payables via SNGPL.
As of March 2024, PSO’s share of SNGPL’s RLNG trade payables stands at nearly 80% (79.90%), indicating a strong claim over the outstanding dues. The government’s fresh liquidity injection via the banking consortium is seen as a concrete step to address these obligations, particularly the ones classified under verified receivables.
