Analyst
Uswa Sikandar
uswa.sikandar@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
PACRA Withdraws Entity Ratings of Sui Northern Gas Pipelines Limited
Rating Type | Entity | |
Current (04-Nov-22 ) |
Previous (05-Nov-21 ) |
|
Action | Withdraw | Maintain |
Long Term | - | AA- |
Short Term | - | A1 |
Outlook | Stable | |
Rating Watch | - | - |
Subsequent to management's decision to discontinue the entity ratings of Sui Northern Gas Pipelines Limited , PACRA withdraws the entity ratings of Sui Northern Gas Pipelines Ltd. with
immediate effect.
.
About
the Entity
SNGPL, the largest gas transmission & distribution company in Pakistan, is engaged in the business of purchase, transmission, and distribution of natural gas. The Government of Pakistan has a direct shareholding of ~32% in the company. The twelve-member Board comprises one ED and eleven NEDs including five independent directors. Mr. Ali J. Hamdani took the position of CEO/MD in Dec-2020. He is accompanied by an experienced team. On 20th November 2019, Mrs. Roohi Raees Khan, Director of SNGPL has been appointed as Chairperson of the Board in place of Late Mr. Syed Dilawar Abbas. However, she was appointed on July, 20 after the election of directors held in early the month of July, 20. She holds experience of more than a decade and is represented on various company boards.