Islamabad: In a significant development for the Oil & Gas Development Company Limited (OGDCL), the Government of Pakistan has increased its direct shareholding in the company from 67.48% to 77.53%. This change follows a decision by the Honorable Supreme Court of Pakistan regarding the Benazir Employees Stock Option Scheme (BESOS).

On July 8, 2026, 432,189,039 ordinary shares, previously held by the OGDCL Employees Empowerment Trust under BESOS, were transferred back to the Government of Pakistan. The transfer, classified as a "Transfer In" transaction, has raised the cumulative number of shares owned by the government to 3.33 billion, representing 77.53% of the company's total shares.

According to information available from the Pakistan Stock Exchange (PSX), this transaction was executed at a price of 0.00 per share, reflecting a redistribution of shares rather than a market sale or purchase. The share certificates were transferred in physical form as part of the compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Regulations.

The reallocation stems from legal proceedings identified in C.A No. 421 to 423 of 2018, CA No. 19-K of 2019, and CP No. 852 of 2018. This move reinforces the government's stake in OGDCL, which is a key player in Pakistan's oil and gas sector. The transfer underscores the government's commitment to maintaining substantial control over strategic national resources.