Islamabad: Sui Northern Gas Pipelines Ltd has sought additional time for submitting its quarterly accounts for the period ending September 30, 2024, citing provisional and unaudited financial figures. The company has requested a 30-day extension from the approval date of its annual accounts for the fiscal year 2023-24, according to official correspondence.

The request follows an earlier approval dated October 28, 2024, which granted Sui Northern Gas Pipelines a 30-day extension until November 29, 2024, for the submission of accounts under Section 237 of the Companies Act, 2017. The company had also previously requested an extension for holding its Annual General Meeting to present accounts for the year ended June 30, 2024, to shareholders.

According to information available from the Pakistan Stock Exchange (PSX), interim financial reporting requirements mandate the inclusion of interim financial statements and comparative figures from the preceding year. Sui Northern Gas Pipelines has reported that the audit for the fiscal year 2023-24 remains incomplete, affecting the finalization of the Final Revenue Requirement (FRR) with the Oil and Gas Regulatory Authority (OGRA).

The company indicated that the absence of the FRR and the pending approval of financial statements by its Board of Directors could lead to material changes in the opening balance sheet figures for the first quarter ending September 30, 2024. These figures are currently based on provisional data, which will be updated once the annual financial statements are approved and disseminated to the PSX and other stakeholders.

In light of these circumstances, Sui Northern Gas Pipelines has formally requested an additional 30-day extension for circulating its quarterly accounts, contingent upon the approval and authorization of its annual accounts for fiscal year 2023-24 by its Board of Directors.