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SNGPL suspend gas supply to Agritech: PSX

admin-augaf by admin-augaf
May 6, 2022
in Technology
Reading Time: 1 min read
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Auditor raised material uncertainty related to going concern of Agritech operations: PSX

Auditor raised material uncertainty related to going concern of Agritech operations: PSX

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Karachi May 6 2022: Sui  Northern  Gas  Pipeplines  Limited  ("SNGPL")  dated  April  30,  2022  has conveyed  to  the  Agritech Limited (AGL)  that  RLNG  supply  shall  remain  suspended  from  0000  hrs  of  May  01, 2022  till further  instructions, according to company filling to the exchange.

SNGPL  has  further  intimated  that  the  said  discontinuation  of  RLNG  supply  is  mainly because  of  scheduled  outage  at  EETPL  (Terminal-1)  and  diversion  of  gas  supplies  to  power  sector  to overcome  the  power  shortage  in  country.   Therefore,  company  is  unable  to  produce  Urea  at  present  and aims  to  resume  the  plant  activities  as  soon  as  the  supply  of  RLNG  is  restored  by  SNGPL.

Agritech Limited was incorporated in Pakistan on 15 December 1959 as an unlisted Public Limited Company under the repealed Companies Act, 1913 (now the Companies Act, 2017). The principal business of the Company is the production and sale of Urea and Granulated Single Super Phosphate fertilizer.

Source: Pakistan Stock Exchange

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Tags: AGLAgritech Limitedgas supplySNGPLUrea Production
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