The federal government has raised its shareholding in Pakistan Petroleum Limited to 74.86%, following the transfer of more than 200 million shares under a Supreme Court directive.
According to official details, 200,057,318 ordinary shares previously held by the PPL Employees Empowerment Trust under the Benazir Employees Stock Option Scheme (BESOS) have been transferred back to the federal government, increasing its stake from 67.51% to 74.86%.
The transfer follows the implementation of a Supreme Court order related to the BESOS program, which had initially allocated shares to employees of selected state-owned enterprises and companies where the government held significant ownership.
Under the scheme, eligible employees were granted shares subject to a five-year vesting period. However, in October 2020, the Supreme Court ruled that the scheme had been implemented in violation of constitutional provisions and ordered that all shares and funds be returned to the Federal Consolidated Fund.
The latest development is a direct implementation of that judgment, further consolidating federal control over PPL, one of Pakistan’s key energy sector companies.
The government’s increased ownership is expected to strengthen oversight of strategic energy assets, particularly in the oil and gas exploration and production sector.
