LAHORE - The Board of Directors of the Sui Northern Gas Pipelines Limited (SNGPL) was unable to recommend any dividend for fiscal year 2008-09 while approving its annual accounts due to legal restrictions placed on the Company by the World Bank Loan Covenants. According to a press release issued on Monday, the World Bank Loan covenant stipulates that no dividend shall be paid if the current liabilities of the company increase the amount of its current assets. The current liabilities of the Company has increased due to the delay in the settlement of inter circular debit in public sector enterprises. However, the Directors of the company are confident that this is temporary phase and after the settlement in inter circular debit and implementation of other measures taken by the management, the company would achieve its dividend payment capabilities.