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SSGC records Rs 713m pretax profit

RECORDER REPORT

KARACHI: Sui Southern Gas Company (SSGC) has posted 38 percent higher pretax profit of Rs. 713 million for the first six months of 1999-2000 as against Rs. 514 million of the corresponding period of the last year.

A company statement said that the after-tax profit for the period under review stood around Rs. 499 million.

The company held its board of directors meeting on Thursday at its newly constructed state-of-the-art building at Gulshan-e-Iqbal. The board approved the unaudited half yearly accounts with disposal of other affairs on the agenda.

The company recorded an unprecedented sales that increased by 18 percent from 84573 mmcf of last year to 99824 mmcf in July December 1999. The SSGC Chairman Shahbaz Aitazaz, observed that the increase in value of sales was 12 percent which is a result of both the volume growth and the gas tariff increase effective from August 16 last.

Reviewing the other matters of the company he said a total of 323-km distribution main and service lines were laid during the period to connect 41,684 additional consumers. Now the total number of consumers has reached to 1,489,892.

Moreover, gas purchase agreements have been finalised with the operators of Miano, Darud, Zamzama and Badin-II gas fields.