Government Holdings (Private) Limited (GHPL) is a state-owned company, incorporated in 2000 as an independent private limited entity. Established originally to manage the Government of Pakistan’s working interests in petroleum exploration and production (E&P) joint ventures, GHPL today holds one of the largest non-operating upstream portfolios in the country. GHPL also has the unique mandate of acting as the licensee for Pakistan’s offshore blocks under the Petroleum Sharing Agreement (PSA) regime, ensuring state participation in offshore E&P sector.

GHPL’s business model focuses on investing in profitable ventures following rigorous techno-commercial evaluations. As a non-operating joint venture partner, GHPL works alongside a diverse mix of public and private sector companies—both local and international. GHPL plays an active and value-adding role through a lean but highly skilled team with cross-functional expertise. This approach ensures informed decision-making, responsible oversight, and constructive participation in the joint ventures.

GHPL also has an established international footprint through its shareholding in Pakistan International Oil Limited (PIOL) where GHPL and three other state-owned entities in Pakistan are partner in an oil and gas concession in Abu Dhabi with ADNOC, marking a milestone in Pakistan’s entry into international E&P markets. Building on this foundation, GHPL aspires to expand its global presence through commercially sound partnerships in resource-rich jurisdictions.

In addition to the core business, GHPL has entered the minerals sector through its investment in the world-class Reko Diq copper-gold project, in partnership with Barrick and other state-owned enterprises. GHPL plays a key role in the Reko Diq project through Pakistan Minerals Private Limited (PMPL), an SPV established to manage the investment of SOEs in this landmark project. GHPL considers mining as a focus area and aims to work with local and international partners in supporting the government’s objective of scaling this sector in the country.

Moreover, GHPL also holds 100% equity in Pakistan LNG Limited (PLL) and Inter State Gas Systems (ISGS), broadening its presence across the energy value chain.

These strategic investments position GHPL to support Pakistan’s evolving energy landscape and respond to the shifting global dynamics of the natural resources sector.