SLL denies financial misconduct

KARACHI: SSGC LPG Limited (SLL), a subsidiary of Sui Southern Gas Company Limited, has been at the forefront of LPG imports in Pakistan, operating under the Ministry of Energy (Petroleum Division). With a market share of about 8 percent, SLL has become the largest importer of LPG in the country, conducting its operations with a high degree of transparency and adherence to PPRA Rules, a statement said on Thursday.

"These imports are being made in a highly transparent manner through international bidding in complete adherence to PPRA Rules whereby tenders are being awarded to the most advantageous bidders," the company said. "All these imports are being made through opening Letters of Credit which are retired through normal banking channels."

At the same time, SLL stands committed towards ensuring not to provide any room to black marketers who take advantage of these shortages to artificially increase prices of LPG and earn extra profits from the consumers.

There are around more than 250 LPG marketing companies operating in Pakistan. The statement said SLL does not have any local allocation of indigenously produced LPG and is totally dependent on imports. "SLL’s market share is about 8 percent which cannot be termed as monopolistic by any means whereas the other similar companies are operating with larger market share."

It is also to be noted that price of indigenous LPG is always lower than imported LPG whereby the importer has to keep its selling price within the OGRA announced price which is equal for importers as well as those having quotas from local producers. Therefore, there is no room for extra profit taking for companies depending upon imports such as SLL.

The company said It has been noted with grave concern that some vested interests are out there to defame SSGC and SLL, accusing their employees of financial misconduct in LPG imports while also misquoting few Government investigating agencies, MoE-PD and others.