LAHORE, Dec 29: The Sui Northern Gas Employees Union has opposed the sale of 51 per cent shares of the company and decided to bid for the same in case the government sticks to its decision. Union President Zulfiqar Afghani said they were against the sale of the company shares as it had earned Rs4.25 billion profit during the previous financial year. Its share price in the stock market had increased from Rs7 to Rs68 as a result. Value of the company assets had increased to Rs65,076,359 billion.

He said the company was meeting the gas requirements of 2,516,295 industrial, commercial and domestic consumers and providing employment to thousands of workers. Sale of its shares was not advisable as it would jeopardise the interests of both consumers and employees.

He said the union was exerting pressure on the government to review its decision to privatize 51 per cent shares but would be ready to bid for the same to protect the interests of workers in case it was not ready to do so. A convention of the workers would also be held soon for further discussion on future course of action.