The federal government’s ownership in Oil and Gas Development Company Limited (OGDCL) has risen to 77.53%following the transfer of more than 432 million shares previously held by the company’s Employees Empowerment Trust.
According to separate disclosures submitted to the Pakistan Stock Exchange (PSX) and the London Stock Exchange (LSE), OGDCL transferred 432,189,039 ordinary shares to the Government of Pakistan in compliance with the Supreme Court’s ruling on the Benazir Employees Stock Option Scheme (BESOS).
The company said the shares were transferred to the President of the Islamic Republic of Pakistan on July 8, 2026, at a transfer price of Rs. 0 per share.
Following the transfer, the government’s direct shareholding in OGDCL increased from 67.48% to 77.53%, bringing its total holding to approximately 3.334 billion shares.
The transaction implements the apex court’s decision regarding BESOS-related shares and further strengthens the government’s majority ownership in Pakistan’s largest oil and gas exploration company.
The development is expected to reinforce the government’s control over OGDCL while concluding the legal process surrounding the transfer of shares under the Benazir Employees Stock Option Scheme.
