Oil Pricing Probe By Courts
Overcharging of petroleum products by the government was challenged in the Supreme Court through identical constitutional petitions of Pakistan People’s Party Senator Rukhsana Zuberi and Pakistan Muslim League back in 2005. In 2009 this case is being investigated.
On March 30, a three-member bench of the apex court, headed by Chief Justice Iftikhar Muhammad Chaudhry, observed that to resolve the controversy, an exercise had to be undertaken starting from the date when the Oil Companies Advisory Committee (OCAC) was authorised to fix prices of oil and gas, ie from June 29, 2001 to April 1, 2006 when its authority was given to the Oil and Gas Regulatory Authority (Ogra).
The judicial commission, probing into nitty-gritty of oil pricing and profits earned by the government, would start taking input from the relevant authorities here from May 3 to 8.
Via: Business Recorder
