The government is actively considering reduction in petroleum products prices in the wake of decrease in world oil prices," Attorney General Makhdoom Ali Khan informed the Supreme Court here on Tuesday.
He gave this assurance during of hearing of three identical petitions filed by Senator Rukhsana Zuberi, PML (N) Secretary General Zafar Iqbal Jhagra and Advocate Maulvi Iqbal Haider. He also sought some time for the government''s announcement for reduction in oil prices.
However, counsel for one of the petitioners, Mohammad Akram argued that the government had already stated that it would reduce prices on December 15, 2006. Therefore, the government should announce new prices of petroleum products on Friday.
Rukhsana argued that since the oil prices had considerably come down in the international market, commensurate relief should be passed on to the consumers.
She said that her petition pertained to fixing of oil prices by the dissolved Oil Companies Advisory Committee which fleeced the nation of billions of rupees in connivance with some officials of the Ministry of Petroleum, and the NAB had investigated this mega scandal.
Counsel for oil companies, Khalid Anwar, submitted that since the government has given responsibility of fixing oil prices to the Oil & Gas Regulatory Authority (Ogra) from April 2006, these petitions may be disposed of. The court adjourned the case till third week of next month (January, 2007).
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