QUETTA, Feb 20 (APP):The Oil and Gas Development Company Limited (OGDCL) has agreed to pay Rs 12.6 billion to Balochistan government as royalty of Uch gas field.
The OGDCL and Balochistan government 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 government 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 government 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 government 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 government was able 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 payable to Balochistan government and in this regard payment plan has been formulated.
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