48th AGM of SNGPL held

The 48th Annual General Meeting (AGM) of the Sui Northern Gas Pipelines Limited (SNGPL) was held at local hotel, here on Monday. Chairman SNGPL, Mian Misbah-ur-Rehman chaired the meeting. The company's annual accounts for the year ended June 30, 2011 were placed before the shareholders. The company earned gross profit of Rs 3,600 million whereas the net profit after tax was Rs 1,125 million.
Managing Director SNGPL Arif Hameed briefed the shareholders about the performance of the company, the initiatives taken by the company and the hectic efforts being made to control gas losses. The proposed dividend @ 10%, bonus shares @ 5% and the annual accounts of the company for FY 2010-11 were approved by its shareholders. The shareholders also approved the appointment of M/s A.F. Ferguson & Co, Chartered Accountants and M/s M. Yousuf Adil Saleem & Co, Chartered Accountants, as joint auditors, for the company for the financial year 2011-12.-PR