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Inter State Gas Systems (Pvt.) Ltd. (ISGS) was established in 1996 as a joint venture of Sui Southern Gas Company Limited (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) and incorporated as a private limited company under the Companies Ordinance, 1984. ISGS has been mandated by the Government of Pakistan (GOP) to develop natural gas import projects, and to serve as an interface between the GOP and other national and international agencies for the import and storage of natural gas in Pakistan.
Corporate Structure
ISGS is a private limited Company, wholly owned by Pakistan’s two major gas utility companies; SSGC 51% while SNGPL 49%. In view of its current shareholding, ISGS, under the Company Ordinance 1984, is a subsidiary of SSGC. Under its Memorandum and Articles of Associations, the Company has nine (9) members on its Board of Directors, consisting of five (5) directors representing SSGC while four (4) representing SNGPL.
Share Capital
The initial authorised share capital of the Company was Rs. 10,000,000 (rupees ten million) divided into 1,000,000 shares of Rs. 10.00 each, while its paid-up capital was Rs. 1,000.00 only. The Board of Directors decided in May, 2004 to increase its paid-up capital and accordingly it was raised to Rs. 10,000,000, subscribed fully by the existing share holders.
Over the years the Company intensified its operations and considerable headway was achieved in its on-going transnational pipeline projects. In order to meet the growing capital requirements of the Company to implement the projects on import of gas through pipelines and Under Ground Storage (UGS), the Shareholders on the recommendations of the Board increased the Authorized Share Capital of the Company from Rs. 10.00 million to Rs. 20.00 billion. The Company is in the process of increasing its Paid-up Capital as well to cater its capital requirements.
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Registered Office:
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517, Main Margalla Road, F-10/2, Islamabad
Tel. 051-9267672-74, Fax: 051-9267671
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Hilal A. Raza,
Managing Director/Chief Executive Officer
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