ISLAMABAD – July 4, 2025: Sui Southern Gas Company Limited (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) on Thursday issued official statements denying recent claims circulating in the media regarding a settlement of the circular debt in the gas sector.
In a letter sent to the Pakistan Stock Exchange (PSX) and the Securities and Exchange Commission of Pakistan (SECP), SSGC clarified that it had no information or involvement related to the claims made in an article published by Metis Global Link News on July 1, 2025, titled “The Silent Transition in Circular Debt: Fiscal Year Closes, Market Awaits Clarity.”
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The letter, issued by SSGC’s Company Secretary Fawad Ahmed Khan, stated:
“SSGC has no knowledge of or information concerning the matters stated in the referenced article. However, any relevant information will be promptly reported in accordance with PSX regulations.”
The company emphasized its compliance with the regulatory framework and commitment to timely disclosure of material information.
Meanwhile, SNGPL also responded to media reports, confirming that it received payments from the Power Division on June 26 and 27, 2025. The company clarified that the payments were routine settlements of invoices for the April–June quarter and unrelated to any broader circular debt settlement.
A spokesperson for SNGPL stated:
“These payments are part of regular business transactions. Any assumption linking them to circular debt clearance is incorrect.”
In a separate development, SNGPL announced that it had achieved its highest-ever profit before tax, amounting to Rs30 billion in the fiscal year 2023–24. The performance marks a significant improvement in the company’s financial results compared to previous years.
According to market analysts, the record profit is the result of better revenue management, improved recoveries, and efficiency in operational practices.
Both companies’ statements come amid renewed market speculation over the government’s strategy to address the circular debt in the gas sector. No official announcement has yet been made by the Ministry of Energy regarding a formal settlement plan.
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