PPL's BLZ project enters execution phase

June 24, 2026 (MLN): Pakistan Petroleum Limited (PSX:PPL) has commenced the execution phase of its Barite, Lead and Zinc (BLZ) Project following the signing of a Project Management Consultancy contract with M/s. DMT, Germany.

The development, follows an earlier amendment to the Operating Agreement dated November 15, 2004 for the Barytes Project with the Government of Balochistan, under a joint venture arrangement for the BLZ Project.

The appointment of DMT reflects PPL's commitment to international standards, technical excellence and efficient project delivery.

The BLZ Project is expected to become a key driver of economic growth in the region, while at the national level strengthening Pakistan's mining sector through increased production and export of barite, lead and zinc  contributing to the country's mineral exports and sustainable resource development.

The BLZ Project is among Pakistan's most significant large-scale open-pit mining venturesSeparately, the Supreme Court of Pakistan ruling has transferred the entire shareholding of 200,057,318 ordinary shares of the PPL Employees Empowerment Trust, formed under the Benazir Employees Stock Option Scheme (BESOS), back to the Government of Pakistan (GoP).

As a result, the GoP’s direct shareholding in Pakistan Petroleum Limited (PPL) has increased from 67.51% to 74.86%.

Separately, the Supreme Court of Pakistan ruling has transferred the entire shareholding of 200,057,318 ordinary shares of the PPL Employees Empowerment Trust, formed under the Benazir Employees Stock Option Scheme (BESOS), back to the Government of Pakistan (GoP).

 The aforementioned information was disseminated through a notification to Exchange.

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