The 48th Annual General Meeting (AGM) of the Sui Northern Gas Pipelines Limited was held on Monday under the chairmanship of Mian Misbah-ur-Rehman. The company’s annual accounts for the year that ended on 30th July 2011 were placed before the shareholders. As per deceleration the company earned gross profit Rs3,600 million whereas the net profit after tax was Rs1,125 million.
The Managing Director briefed the shareholders with the performance of the company, the initiation being taken by it and also the hectic efforts being made to control unaccounted for gas losses. The proposed dividend at 10 per cent, bonus shares at 5 per cent 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.
