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Media report on network system upgrades not price-sensitive: SSGC

Media report on network system upgrades not price-sensitive: SSGC
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July 04, 2024 (MLN): In response to the PSX letter regarding price-sensitive information, Sui Southern Gas Company Limited (SSGC) has clarified that the media report related to process reinforcement, replacement, and rehabilitation of the network system should not be considered as price-sensitive information requiring immediate disclosure.

SSGC operates in a regulated regime where the revenue is determined by the regulators based on predetermined benchmarks.

Any incremental impact on revenue cannot be precisely ascertained until the revenue determination by the Regulator.

Therefore, SSGC considers that the report published by the media house should not be regarded as having an impact on prices.

"We believe that the justification provided above will serve the purpose and absolve the company from complying with any legal requirements regarding disclosure," the notice concludes.

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Posted on: 2024-07-04T11:50:37+05:00