QUETTA, Feb 20 (APP):The Oil and Gas Development Company Limited (OGDCL) has agreed to pay Rs 12.6 billion to Balochistan gove
rnment as royalty of Uch gas field.
The OGDCL and Balochistan gove
rnment have agreed on a formula for payment of royalty from August 2024 to January 2024 on monthly tranche basis, the officials of CM secretariat said.
The Balochistan gove
rnment was taken measures to receive billions of rupees from OGDCL as royalty of Uch gas field,
it added.
The OGDCL had withheld payment of royalties to the Balochistan gove
rnment from September 2021 due to an abnormal increase in the revolving credit of power-buying companies.
Balochistan Chief Minister Mir Ali Mardan Khan Domki had raised the issue of due royalty at the national forums.
The OGDCL has accepted the position of the caretaker provincial gove
rnment and agreed to pay royalty due for three years.
Caretaker Chief Minister Mir Ali Mardan Khan Domki said royalty is the right of Balochistan and will be spent on the welfare of the people.
The caretaker gove
rnment was a
ble to ensure the pending royalty amount to Balochistan for three years.
Mir Ali Mardan Khan Domki said companies operating in Balochistan are obliged to pay royalties according to the laws.
The OGDCL will prioritize payment of royalties paya
ble to Balochistan gove
rnment and in this regard payment plan has been formulated.
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