Karachi, Sui Northern Gas Pipelines Limited (SNGPL) has officially announced the cancellation of its Extra Ordinary General Meeting (EOGM) that was originally scheduled to take place today, September 11, 2023, in Lahore. This decision was made during the 61st emergent meeting of the SNGPL Board of Directors held on September 07, 2023.

The cancellation of the EOGM came as a result of a directive from the Ministry of Energy (Petroleum Division), which was conveyed to the SNGPL board through an official letter dated September 07, 2023. The board, after careful and detailed deliberation, determined that it was in the best interest of the company and its stakeholders to comply with the ministry's advice and cancel the meeting.

The meeting was expected to address critical matters pertaining to the company's operations and future plans. However, due to this cancellation, shareholders and stakeholders will need to await further updates on these important matters.

Additionally, SNGPL had previously announced book closures starting from September 05, 2023, and ending on September 11, 2023, inclusive. With the cancellation of the EOGM, it remains to be seen how this schedule may be adjusted or if there will be any related changes in the company's financial activities.

The decision to cancel the EOGM highlights the significant influence and regulatory oversight of the Ministry of Energy (Petroleum Division) in the functioning of Sui Northern Gas Pipelines Limited. Shareholders and the public are now eagerly awaiting further developments and announcements from the company's management regarding the rescheduling of the meeting or any other pertinent updates.