Islamabad: The Secretary Petroleum on Thursday informed the Supreme Court of Pakistan that the weekly review system of petroleum prices has been stopped.
A three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry resumed hearing of petitions pertaining to the hike in POL prices on weekly basis on Thursday.
During today’s hearing, the secretary appeared before the apex court and informed that the weekly price review system of the petroleum products had been stopped, adding that they had also suspended the agreement between the government and the Compress Natural Gas (CNG) Association regarding the operating cost.
On Wednesday, the chief justice inquired chairman Oil and Gas Regulation Authority (OGRA) Saeed Ahmed Khan that under which law the tariff was being revised every week. The chairman failed to provide any satisfactory answer.
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