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MarketScreener Homepage  >  Equities  >  KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED, THE  >  Sui South Gas    SSGC   PK0002801014

SUI SOUTH GAS (SSGC)
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Sui Southern Gas : SSGC conducts raids, cut down numerous illegal connections, two culprits arrested - Press Release issued by Sui Southern Gas Company Limited

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01/12/2019 | 06:04am EST

January 11, 2019 (PPI-OT)

Following is the text of press release issued by Sui Southern Gas Company Limited (SSGC)

Quote

SSGC tightened its noose on gas thieves by conducting a number of raids during the last few days in its franchise provinces of Sindh and Balochistan. In different raids, two culprits were arrested on spot who were stealing gas by using direct connection from the gas line.

In adherence to the directives of senior management, a joint inspection-cum-raid was carried out in Karachi'sDawood Bachani Goth where a culprit Ghani was running a water hydrant unit by using stolen gas for power generation. Task force arrested Ghani from the spot.

Another gas thief was arrested from Gulshan Maymar, Lasi Goth in Karachi where teams of CGTO along with CRD representatives and SSGC police raided Nadeem Arif Pakwan Center where culprit Shakeel Muhammad was stealing gas 350 cft per hour from direct line by using rubber pipe. SSGC's team killed gas line/ connection and removed rubber pipe and other material which were being used in stealing gas.

CGTO, CRD along with SSGC Police also conducted raids in different areas of Quetta. First raid was conducted in Labour Colony Bypass Road whereas the second raid was carried out on Mashallah Sakhi Hotel at Spinny Road. The third raid was conducted on New Punjab Hotel and Musafir Khana, Spinny Road where the miscreants were using gas unlawfully by using rubber pipe from the main service line. Task force disconnected their connection and dismantled the theft network and will charge theft load accordingly.

On the other hand, SSGC's Legal Wing achieved a huge success. Bail application of accused / gas thief Bashir Chandio, owner of Super Pakwan, Qasimabad was rejected by Gas Utility Court District, Hyderabad. The accused was nominated in FIR # 148/2018 on the charges of using gas through direct connection. Mr. Muhammad Asif from SSGC's Prosecution Wing Hyderabad contested the arguments in the Court. SSGC is determined to intensify crackdown on such culprits in future as it badly affects Company's financial position.

For more information, contact:Chief Manager (Media Relations)Sui Southern Gas Company Limited (SSGC)Corporate Communication Department (Media Relations)ST-4/B, Block 14, Sir Shah Suleman Road,Gulshan-e-Iqbal, KarachiTel: +92-21-99021773, +92-21-99021000Fax: +92-21-99231662Cell: +92-322-2225159Email: inayatullah@ssgc.com.pk, info@ssgc.com.pkWeb: www.ssgc.com.pk

Unquote

© Pakistan Press International, source Asianet-Pakistan

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Mean consensus BUY
Number of Analysts 1
Average target price 41,0  PKR
Spread / Average Target 61%
Managers
NameTitle
Javed Zia Chairman
Mohammad Wasim Deputy Managing Director-Operations
Syed Fasihuddin Fawad Chief Financial Officer
Shah Mujtaba Ahmed Chief Technology & Information Officer
Mirza Mahmood Ahmad Non-Executive Director
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