Pakistan completes historic Rs659.6billion power holding debt settlement: Owais Laghari

ISLAMABAD (Dunya News) – Pakistan has completed the historic settlement of Power Holding Company’s (PHC) debt worth Rs 659.6 billion, Federal Minister for Power Division Owais Laghari announced on social media platform X.

Laghari said the settlement includes Rs 399.6 billion through National Debt Management (NDM) redemption, the largest single debt market transaction in Pakistan’s history. The remaining Rs259.7 billion was paid under various other financing facilities.

“This settlement is part of the Rs 1,225 billion circular debt reduction plan and demonstrates the confidence investors have in our institutions and the revival of Pakistan’s economy,” Laghari said.

He added that the completion of these transactions highlights the capacity of Pakistan’s capital market to handle large-scale financial operations. The redemption of the first and second Pakistan Energy Sukuk worth Rs399.6 billion represents the biggest sukuk transaction ever in the country.

Laghari emphasized that these settlements strengthen the capital market and boost investor confidence in the Islamic finance ecosystem.

He also said the government is committed to continuing structural reforms in the energy sector to ensure financial stability and long-term growth.

“The successful settlement of PHC’s Rs 659.6 billion debt underlines the government’s ongoing efforts to reform the energy sector and stabilize Pakistan’s economy,” he added.