The Government of Pakistan has increased its direct ownership in Pakistan Petroleum Limited (PPL) after a substantial block of shares previously held by an employee trust was transferred to the state. The move has raised the government’s shareholding in the company from 67.51% to 74.86%, strengthening its position as the majority stakeholder.
According to a filing submitted to the Pakistan Stock Exchange, more than 200 million ordinary shares were transferred from the PPL Employees Empowerment Trust to the federal government. The trust had been established under the Benazir Employees Stock Option Scheme (BESOS), a program designed to provide employees with a stake in state-owned enterprises.
The transfer follows a decision by the Supreme Court of Pakistan in a series of cases related to the ownership and administration of shares held under the scheme. In compliance with the court’s ruling, the shares have now been returned to government ownership.
The development further consolidates the state’s influence over PPL, one of Pakistan’s leading oil and gas exploration and production companies. With a larger equity stake, the government is expected to have an even stronger role in the company’s strategic direction and long-term decision-making.
Established in 1950, PPL has been a key contributor to Pakistan’s energy sector for decades. The company is involved in the exploration, development, and production of oil and natural gas resources, helping meet the country’s growing energy demands.
The increase in government ownership represents a notable change in PPL’s shareholding structure and highlights the lasting impact of judicial decisions on corporate governance and state-owned enterprises in Pakistan.