KARACHI, Feb 26: Sui Southern Gas Company Limited (SSGCL) has earned a pre-tax profit of Rs937 million and an after-tax profit of Rs605 million during July-December 2002-2003.

Gas sales increased to 123,812 mmcf as compared to 116,379 mmcf in July-December 2001-2002. These un-audited half yearly accounts for the period ended December 31, 2002 were discussed in a meeting of SSGC’s board of directors on Wednesday headed by Aitzaz Shahbaz, chairman of the board.

Company’s Managing Director, Munawar Baseer Ahmad informed the board that the company’s profitability is linked directly with its asset base in which there has been a reduction due to sale of the purification plant at Sui in July 2002, says a press release.

The completion of Gas Infrastructure Rehabilitation and Expansion Project (GIREP) will further improve company’s profitability by the end of current fiscal year which include commissioning of new gas fields and their integration into SSGC’s transmission system.

The company laid a total 226 km of gas distribution pipeline and the SSGC’s meter manufacturing plant produced 137,000 meters as compared to 129,000 meters produced in July- December 2001-2002.

The work on GIREP is being completed with a saving of Rs1 billion due to local sourcing, better prices and effective inventory control.

The project connecting the Bhit Gas Field with the company’s transmission system by constructing a transmission line from Bhit Gas Field to Bajara has been completed and commissioned in time. The Bhit Gas Field has started supplying 40 mmcfd of gas to the SSGC’s system in the test/pre-commissioning period.