SSGC’s stance on the election of its board of directors

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SSGC is releasing this Press Statement to provide clarity and address some recent news items circulating across the media. The election process of the 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 the Petroleum Division, seeking clarification and the path forward. Response was also obtained from SECP, where needed and detailed exchanges are available, clarifying that there was no delay in the process from the 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. The chairperson is one member of the Board and cannot make any decision on her own, and her record shows that the consensus of the full BOD took all decisions of the Board.

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 the current Board and Management, declared a Profit of Rs. 1.9 Billion in the Financial Statements of June 30, 2021. It should be noted that the Loss of Rs. 36 Billion staggered from the past years, due to the dismissal of Sind High Court Order, was also absorbed during the tenure of this Board.

Unfortunately, disharmony is being created within the Company by outside forces. We hope that this clarification clears the matters and helps SSGC put these things behind and work on solving the more important gas issues in the country.

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