Institutions increasing petroleum prices will be held accountable: CJP

KARACHI: Chief Justice of Pakistan (CJP) Justice Saqib Nisar on Thursday said that all institutions found responsible for increasing petroleum prices will be held accountable.

The chief justice was hearing a case regarding petroleum prices and the imposition of additional taxes at the Supreme Court Karachi Registry.Deputy Managing Director (DMD) PSO Yacoob Suttarwas among others who appeared before the apex court today.

"Through which laws and formulas are taxes being imposed?" Chief Justice Nisar asked. "People have been driven toward insanity due to the [incessant] imposition of taxes."

Suttar informed the court that the actual price of petrol is Rs62.38 per litre. He added that Rs9.85 per litre tax was levied on the commodity and Inland Freight Equalization Margin of Rs8.83 was also added to the price. The PSO DMD further said that oil marketing companies were earning Rs2.55 per litre, while dealers were earning a commission of Rs3.35 per litre.

The federal government imposeda 15 per cent tax onpetrol in May, which was reduced to 12 per cent in June, Suttarinformed the court. "The price of petrol, afterlevying taxis Rs91.96 per litre," he said.

The chief justice observed that thecollusion of Oil and Gas Regulatory Authority (OGRA) and Pakistan State Oil (PSO) to increase prices of petrol had been brought to the apex court's attention.

"All institutions will be held accountable," Chief Justice Nisar said, expressing his dissatisfaction with PSO's briefing on the matter.

Advocate Faisal Siddiqui was appointed as the judicial assistant. SuttarandFederal Board of Revenue (FBR) Chairman Tariq Mahmood Pasha were summoned by the apex court tomorrow (Friday).

The hearing was then adjourned till June 22.