Updated at: 1210 PST, Tuesday, May 12, 2009
SC Commission on petroleum prices suggests cut by 20pc
ISLAMABAD: Supreme Court (SC) set up Commission after reviewing petroleum and gas prices has proposed a cut in petroleum prices by 20 percent, while the court has directed the government for giving relief to the people, otherwise, the Supreme Court would itself issue order.
The Commission headed by Justice (Retired) Rana Bhagwan Das today presented an interim report based on its findings in the Supreme Court, as directed. SC three-member bench headed by the Chief Justice, Iftikhar Muhammad Chaudhry is hearing this case.
Commission’s interim report said that the people should be given relief by slashing the petroleum prices up to 20 percent besides reasonably cutting down the prices of natural gas, CNG and LPG.
The interim report declared the Article 90 of the amendment in Petroleum Development Levy Ordinance-1961 contravention of the constitution and suggested that the SC should also make the tax on petroleum, duty, other expenses as well as the commission realistic.
SC CJ remarked it appears from the interim report that trillions of rupees have been misappropriated in petroleum prices, while the government and private companies were making billions of profits.
CJ said that if the government didn’t slash the petroleum products’ prices, then the court itself would have to pass an order.
Attorney General, present in the court, sought time until tomorrow for presenting government’s response on the matter and, thereafter, further hearing of case was adjourned.
source: http://thenews.com.pk/updates.asp?id=77446
