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SC summons details of formula for adjusting prices of CNG, POL products.

ISLAMABAD -- Supreme Court Thursday summoned details of agreements with gas suppliers, formula to adjust gas prices and motives for connecting prices of CNG with petrol and weekly adjustment of petroleum products from Secretary Petroleum and Chairman Oil and Gas Regulatory Authority (OGRA).

A three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry resumed the hearing against the appointment of former chairman Oil and Gas Regulatory Authority (Ogra) Tauqir Sadiq.

Chief Justice said that CNG price per Kg should be 17 rupees according to Justice Bhagwandas report, while the price of CNG per Kg has been raised to 100 rupees.

Secretary Petroleum Dr Waqar Masood told SC that they have not received any directions regarding implementation of Bhagwandas report.

He said that 46 billion rupees subsidy has been given to the domestic consumers.

The Chief Justice said that how the line losses of gas are covered and why common consumers suffer as that much.

Justice Jawad S. Khawaja said that petroleum products prices are adjusted with the international market rates and who received the benefits of high prices of CNG.

Then the Supreme Court directed National Accountability Bureau (NAB) to arrest former OGRA chairman, Tauqeer Sadiq, by October 24 and adjourned the hearing.
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Publication:The Frontier Star (Northwest Frontier Province, Pakistan)
Date:Oct 19, 2012
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