Karachi, December 7, 2023 – Engro Polymer and Chemical Limited (EPCL) has inked a crucial agreement with Sui Southern Gas Company Limited (SSGC) to ensure a stable supply of gas until February 29, 2024.
The announcement was made in a communication shared with the Pakistan Stock Exchange (PSX) on Thursday, signifying a strategic move to safeguard EPCL’s operational continuity.
Under the terms of the interim agreement, EPCL and SSGC have solidified their commitment to sustaining a reliable supply of gas to meet the industrial needs of EPCL. The agreement extends until the end of February 2024, providing both parties with a clear framework for the duration of this crucial period.
EPCL emphasized that the gas supply would be utilized by the company on an ‘as and when’ available basis. This flexible approach ensures that EPCL can optimize its operations in accordance with the availability of gas resources, contributing to a seamless continuation of the company’s activities without any interruptions.
The significance of this agreement lies in its ability to mitigate potential disruptions to EPCL’s operations, which could have arisen due to uncertainties in gas supply. By securing this agreement, EPCL demonstrates a proactive approach to managing its industrial processes and underscores the importance of uninterrupted gas supply for its ongoing operations.
In recent times, industrial players have faced challenges related to the availability and consistency of essential utilities, including gas. Such agreements between companies like EPCL and SSGC play a pivotal role in providing stability to the industrial sector and contribute to overall economic resilience.
This development is likely to be well-received by investors and stakeholders, as it reflects the proactive and strategic management of EPCL in ensuring the continued functionality of its operations. The agreement also serves as a testament to the collaborative efforts between public and private entities to address challenges and maintain the vitality of key industries in Pakistan.
As EPCL secures its gas supply until the end of February 2024, the broader industrial landscape will be watching closely, anticipating the positive impact of such strategic agreements on the sustainability and growth of the industrial sector in the region.
