The Supreme Court has extended the stay against privatisation of Pakistan State Oils Ltd (PSO) for an indefinite period. The court took this decision on an application by Abdul Hafeez Pirzada who requested for an adjournment of the case as he was engaged by the Privatisation Commission only on Monday, and that he was not prepared to argue the case.
The Court was hearing an appeal of the Attock Group of Companies against its disqualification to participate in the purchase of 51 percent controlling shares of PSO here on Tuesday. The Privatisation Commission had disqualified the Attock Group alleging that it had concealed some adverse information which was required as per ''Request for Statement Qualification''.
In its appeal, the Attock Group stated that it was engaged in exploration production, refining, manufacturing of petroleum products and chemicals. The group had successfully participated in the privatisation process relating to National Refinery in 2003 and paid Rs 7.5 billion more than the next bidder.
The court had also clubbed a petition of Pir Fazal Shah Jilani, MNA, and convenor of National Assembly subcommittee on natural resources with this case seeking annulment of the decision to privatise PSO as it was a profitable and strategic national asset.
The five-member full bench comprised Chief Justice Iftikhar Mohammad Chaudhry, Justice Faqir Mohammad Khokhar, Justice Javed Buttar, Justice Nasirul Mulk and Justice Raja Fayyaz Ahmad.
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