Karachi, February 19, 2013 (PPI-OT): Please refer to our letter number CA/KSE/562 dated February 13, 2013 intimating the financial results approved by the Board announcing profit/ (Loss) for the year ended June 30, 2012 at their 400th meeting held on February 13, 2013.
The financial statements for the years 2010-11 and 2011- 12 were prepared, presented and approved on the basis of a stay granted by Honourable Lahore High Court, Lahore against the determination of Oil and Gas Regulatory Authority.
The financial results for the said years were also reported accordingly. On February 15, 2013, the Honourable Lahore High Court, Lahore has dismissed the petition filed by the Company. The net financial impact of this decision may result in reduction in retained earnings as of June 30, 2012 by approximately Rs. 8,361 million.
This is being issued with the consent of the Chairman of the Board of Directors of Sui Northern Gas Pipelines Limited (SNGP).
This is for your information, record and circulation amongst the members.
For more information, contact:
Wajiha Anwar
Company Secretary
Tele: 042-99201044
Fax: 042-99201369
Sui Northern Gas Pipelines Limited
Gas House, 31- Kashmir Road,
P.O. Box: 56, Lahore (Pakistan)
Tel: 99080000, 99082000
Fax: 99201369, 99201302
Web: www.sngpl.com.pk