Establishment of Government Holdings Private Limited (GHPL) was envisaged in Petroleum Policy 1994 to separate regulatory and commercial functions. Formation of GHPL was approved by the Cabinet on January 27, 1997 and included in the Procedural and Regulatory Measures of Petroleum Policy 1997.
GHPL was incorporated in January 2000 under the Companies Ordinance 1984 and commenced its operations in Nov. 2000 to safeguard the commercial working interest of Government of Pakistan (GOP). Under the policy, GHPL was assigned 19 blocks.
Under 2009 policy, GHPL acquired working interest in four exploration blocks with Pakistan Petroleum Limited (PPL).
GHPL, under 2012 policy, exercised its optional right and acquired working interest in further 26 blocks with OGDCL, PPL, OMV, KUFPEC, Al-Haj and Tallahassee Resources