Lahore: Sui Northern Gas Pipelines Limited has formally applied for a 30-day extension to hold its Annual General Meeting (AGM) for the fiscal year 2024-25. The company cited delays in receiving the Final Revenue Requirements (FRR) from the Oil and Gas Regulatory Authority (OGRA) as the primary reason for the request.

Under the Companies Act, 2017, listed companies are mandated to conduct their AGM within 120 days from the end of the financial year. For Sui Northern Gas Pipelines Limited, this period was set to end on October 28, 2025. However, the company is now seeking an extension until November 27, 2025, to lay its audited financial statements before its shareholders. The company has stated that the finalization of its audit is contingent upon the determination of the FRR by OGRA, which remains pending.

According to information available from the Pakistan Stock Exchange (PSX), the situation has necessitated the application for an extension. Sui Northern Gas Pipelines Limited filed a petition with OGRA for the issuance of the FRR for FY 2024-25 on August 15, 2025, but has not yet received a determination. Consequently, the company's auditors, M/s A.F. Ferguson & Co., have indicated that the audit process will be completed once the FRR is issued and incorporated into the financial statements.

The company is required to adhere to a statutory 21-day notice period before holding its AGM, which has further compounded the need for an extension. Sui Northern Gas Pipelines Limited held its last AGM on May 22, 2025, where the accounts for the year ending June 30, 2024, were presented.

The company's application to the regulatory body includes an affidavit and a bank challan of Rs. 15,000, submitted as part of the application fee for the extension. The management has expressed its hope for the commission's favorable consideration of their request, aiming to ensure compliance with statutory obligations while awaiting OGRA's decision.