PACRA Withdraws the Ratings of Gas & Oil Pakistan Limited - PPSTS - PKR 10bln – Jan-26

Gas & Oil Pakistan Limited ("GO" or "the Company") issued a Short-Term, Rated, Unsecured, and Privately Placed Sukuk in January 2026 with an aggregate issue size of PKR 10.0 billion and an additional green shoe option of up to PKR 4.0 billion. The instrument had a tenor of six months from the date of drawdown, carried a profit rate of 6MK + 40bps, and was issued to finance the Company's working capital requirements. Each Sukuk certificate had a face value of ~PKR 1.0 million and was redeemable at par through a single bullet payment upon maturity. The Sukuk was fully redeemed on July 8, 2026, with the Company settling the entire outstanding principal amount together with the accrued profit. The redemption process has been verified through supporting bank statements, confirming that an aggregate amount equivalent to the full issue size, along with profit, was transferred to the designated account and subsequently paid to the investors. Following the successful redemption of the instrument, PACRA has withdrawn the ratings of Gas & Oil Pakistan Limited – PPSTS – PKR 10bln – Jan-26 in line with its standard rating practice.

About the Entity
Gas & Oil Pakistan Limited ('GO' or 'the Company') was incorporated as a public unlisted company in 2012 under the repealed Companies Act, 2017. The Company obtained its Oil Marketing Company (OMC) licence from OGRA in 2019 and is engaged in the procurement, storage, distribution, and marketing of petroleum products and lubricants across Pakistan. GO is governed by a ten-member Board, comprising four Aramco representatives and six GO nominees. The Board is chaired by Mr. Shahid Mehmood Khan, while Mr. Khalid Riaz serves as the Chief Executive Officer. The governance framework is supported by the appointment of certain key management personnel by Aramco, alongside an experienced Board and management team.