Karachi: Sui Southern Gas Company Limited (SSGC) has formally requested an extension for holding its Annual General Meeting (AGM) for the fiscal year 2025-26, citing regulatory delays. The application, addressed to the regulatory authorities, highlights the dependency of the company's financial statements on an outstanding decision from the Oil and Gas Regulatory Authority (OGRA).

In a letter dated October 27, 2026, SSGC referred to an earlier approval received on October 6, 2026, which granted the company a 30-day extension, allowing the AGM to be held by November 27, 2026. The request for further delay stems from the pending determination of the Final Revenue Requirement (FRR) by OGRA. SSGC submitted its petition for FRR, along with initial accounts, on August 13, 2026. However, the decision by OGRA remains unresolved as of October 26, 2026.

As a regulated entity under OGRA's Ordinance 2002 and the Natural Gas Tariff Rules, SSGC's financial statements are contingent upon the FRR determination. According to information available from the Pakistan Stock Exchange (PSX), the company's AGM plans are crucially dependent on this regulatory milestone.

SSGC outlined a timeline, requiring at least 55 days post-OGRA's decision to effectively organize the AGM. The breakdown includes a statutory notice period of 21 days, 5 days for printing accounts, 7 days for statutory notice of Board of Directors/Board Audit Committee meetings, 2 days for agenda preparation, and 20 days for adjustments and external audit reviews.

In light of these constraints, SSGC has formally requested permission to schedule the AGM 55 days after the FRR determination. The company aims to present its audited accounts for the fiscal year ending June 30, 2026, to shareholders for approval. The application includes an affidavit and a bank challan of Rs. 15,000 for filing the request, emphasizing the urgency of regulatory approval for proceeding with the AGM.