KARACHI, Oct 30: The Sui Southern Gas Company Limited (SSGCL) contained its losses to only Rs250 million in 2005-2006 despite sabotage of its pipelines and installations.
This was stated by managing-director of the SSGCL Munawwar Baseer Ahmed during the 52nd annual general meeting of shareholders held in a local hotel here on Monday to approve the annual audited accounts for the fiscal year ended June 30.
However, he said that the company avoided incurring further losses because of the remote control operation of pipelines’ block valves that had improved the efficiency and safety of the high-pressure pipelines.
Mr Ahmed said that the SSGC maintained uninterrupted supply of gas to its industrial and domestic customers during Ramazan despite sabotage activities.
The meeting was presided over by Chairman SSGCL Aitzaz Shahbaz.
According to a press release, the shareholders later unanimously approved the company’s annual audited accounts and declared 13 per cent dividend, amounting to Rs1.3 per share of Rs10 for the year under review.
