Petrol Prices in Pakistan likely to be increased: Report
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KARACHI: Secretary Finance informed a three-member bench of the apex court, headed by Chief Justice Saqib Nisar, that since previous government hasn’t approved sufficient raise in the price of petroleum the caretaker government has to do it and it may further increase the prices.
When made this disclosure, Chief Justice irked and said that the court was not satisfied with the process of taxation on petroleum products and whoever wants he imposes taxes.
Secretary Finance argued that the petroleum prices in Pakistan were lowest in the region. To this CJP remarked that he has heard this argument several times and it’s said that we are selling petroleum products on lower rates as compared to India. “Why should make comparison with Indian without keeping in mind whether it’s doing right thing?” he asked.
CJP noted that the prices were raised every couple of months causing huge problems for people.
The Chief Justice also expressed dissatisfaction over the PSO report and ordered to verify these by the experts.
Justice Mian Saqib Nisar also expressed displeasure over the difference in the ratio of dealers’ commission.
The Chief Justice inquired about the procedure to minimize the petroleum prices.
Chief Justice Nisar, also expressing his annoyance at the failure of chairman of Oil and Gas Regulatory Authority (OGRA) to appear before the court, questioned who was responsible for making the pricing policies.
MD PSO told the court that the policies are made by OGRA.
OGRA officials in presence, however, contended that the impression that the body was responsible for the policies was wrong.
The pricing mechanism for petroleum products is devised by the government, OGRA officials informed the bench.
To this, Chief Justice Nisar remarked that every institution appeared keen to pile blame on the other. He also appeared irked by the differences in commission rates set by dealers.
It looks as if this is all a monopoly by dealers and their institutions, the CJP observed.
The court while adjourning the hearing till July 5 directed to submit a comprehensive reply from the concerned institutions.
