Lahore: Sui Northern Gas Pipelines Limited has formally requested an extension for the submission of its half-yearly and nine-monthly financial statements for fiscal years ending December 31, 2023, and March 31, 2024. The company communicated this request in a letter dated October 14, 2024, addressed to the Commissioner of the Securities and Exchange Commission of Pakistan (SECP).

In the correspondence, the company revealed that its annual financial statements for the year ended June 30, 2023, were approved by shareholders on August 21, 2024, and noted the appointment of A.F Ferguson and Co. as auditors for the fiscal year 2023-24. According to the letter, the auditors require additional time to review the half-yearly financial reports, anticipating completion in the first week of November 2024, contingent upon receiving necessary information and resolving any pending issues.

According to information available from the Pakistan Stock Exchange (PSX), the request for the extension was necessitated by delays in obtaining and processing required financial data, which impeded the timely review of the accounts. The company expressed gratitude in advance for the consideration of their application and included two enclosures: an affidavit from the General Manager (Accounts) and an auditors' letter confirming the details of the request.

Sui Northern Gas Pipelines assured that all procedures are being followed in accordance with regulatory requirements, emphasizing their commitment to transparency and regulatory compliance in financial reporting. The company remains hopeful for a favorable response from the SECP, aiming to maintain its compliance and integrity in financial disclosures.