Staff Report
ISLAMABAD: In response to a recent news item circulated by a certain media outlet, Sui Northern Gas Pipelines Limited (SNGPL) has expressed its regret over the provision of selective and out-of-context information. The company seeks to provide clarity on the matter and shed light on the accurate sequence of events.
SNGPL emphasizes that its perspective on the situation is as follows:
The Board of Directors (BoD) of SNGPL had concluded its term on July 5, 2023. This factual statement was acknowledged by the former Chairperson in a legal hearing before the High Court as part of her petition.
The recent appointment of the Chairman and independent directors of SNGPL has been executed by the Federal Government’s Cabinet. The selection of these key positions has been carried out in line with due procedures and regulations.
It’s worth noting that the decision taken by the Federal Cabinet to appoint the Chairman and independent directors has not faced any legal challenge from the former Chairperson within her petition before the High Court. Similarly, no objection to this decision has been raised by any of the other Independent Directors.
The actions taken by the Federal Government adhere to the provisions outlined in section 15(2) and 10(2a) of the SOE Act 2023. These provisions grant the Federal Government the full authority to appoint the Chairman and Independent Directors respectively. Moreover, it is well within the framework of the law that the appointing authority also possesses the prerogative of removal. Consequently, the appointment of the Chairman and independent directors has been carried out with strict adherence to legal protocols.
In addition, SNGPL acknowledges receipt of a communication from the Securities and Exchange Commission of Pakistan (SECP) dated August 22, 2023. The company is diligently preparing its response to this communication and aims to address any queries or concerns that may have arisen from it.
The Media Affairs Department of SNGPL has issued this statement to ensure a clear and accurate representation of the situation in response to the recent media coverage. The company remains steadfast in its commitment to transparency, legal compliance, and effective governance as it navigates through the circumstances surrounding these appointments.
SNGPL emphasizes that its stance is firmly rooted in the law and respects the processes mandated by the governing regulations. The company is committed to ensuring the seamless continuation of its operations in line with the legal framework and the best interests of its stakeholders.
