KARACHI: Sui Southern Gas Company (SSGC) is releasing this press statement to provide clarity and to address some recent news items that are circulating across the media.
The election process of Board of Directors of SSGC has been delayed several times due to various reasons at the Petroleum Division level. Detailed correspondence has been shared between SSGC and Petroleum Division, seeking clarification and path forward in this regard. Response was also obtained from SECP, where needed and detailed exchanges are available, clarifying that there was no delay in the process from SSGC Board.
SSGC’s Managing Director and the Board have had a good relationship and have tackled numerous difficult tasks during the last three years. Chairperson is one member of the Board and cannot take any decision at her own and her record shows that all decisions of the Board were taken by the consensus of full BOD.
It must be clarified that Board Member Faisal Bengali resigned without giving any reason and Board Member Nida Fareed resigned due to her other commitments. Moreover, the hiring for DMD CS is currently under process and the interviews are being conducted. A decision will be made, once the process is completed.
SSGC under the tenure of current Board and Management declared Profit of Rs1.9 billion in the Financial Statements of June 30, 2021. It should be noted that the Loss of Rs36 billion staggered from the past years, due to dismissal of Sind High Court Order, was also absorbed during the tenure of this Board.
It is unfortunate that disharmony is being created within the Company by outside forces. We hope that this clarification clears the matters and helps SSGC to put these things behind and work on solving the more important gas issues in the Country.
Copyright Business Recorder, 2024
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