SC wants to know how oil prices are decided

June 22, 2018

A Pakistani labourer pushes his cart laden with used oil drums at a market in Rawalpindi on February 13, 2017. Photo: AFP

Chief Justice Mian Saqib Nisar has said he wants to know how oil prices are decided in the country. 

He said this while hearing a case at the Supreme Court’s Karachi Registry on Friday regarding rising petroleum prices.

The CJ has asked the Oil and Gas Regulatory Authority, PSO and other petroleum companies to come up with a formula regulating the prices within 10 days.

Justice Nisar said politicians and land owners own all the petrol pumps in the country.

He observed that the previous federal government had left a burden for the caretaker government to handle, but vowed that it will be borne by the government, not the people.

The top judge said an audit will be done of the records and if inconsistencies are found, no one will be spared.