17 years ago
Showing posts with label Oil Prices. Show all posts
Showing posts with label Oil Prices. Show all posts
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SC adjourns POL rate hearing for 4 weeks
ISLAMABAD: A three-member bench of Supreme Court headed by the Chief Justice of Pakistan Justice Iftikhar Muhammad Chaudhry adjourned the hearing of the plea against hike in petroleum prices for four weeks.Attorney General Latif Khosa presented copy of the presidential ordinance in the court. He told the court that the presidential ordinance has imposed petroleum levy, adding that carbon tax has been abolished.The apex court adjourned hearing on plea by lawyers of petroleum companies.In his observations, Chief Justice Iftikhar Chaudhry said government has accepted the court ruling of July 7 now petitioners and opponents should give a chance to proceed according to law.
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Petrol, diesel prices hiked through presidential ordinance
ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has again increased the prices of petroleum products. The move follows the imposition of a petroleum levy by the government through a presidential ordinance.
Petroleum products' prices were earlier reduced following the suspension of carbon surcharge by the Supreme Court on Tuesday.
The Petroleum Development Levy Ordinance 2009 was signed by President Asif Zardari early Thursday. The ordinance was signed on a written advice from the Prime Minister.
According to the new Ogra notification, petrol price has been increased by 10 rupees per litre, diesel by eight rupees per litre, light speed diesel by three rupees per litre and HOBC by 14 rupees per litre.
The new price of high speed diesel will be notified by the oil marketing companies.
Officials continued working till Thursday morning in the ministries of law, petroleum and the Federal Bureau of Revenue (FBR) to finalise the ordinance.
The ordinance would remain effective for 120 days in accordance with the Constitution. — DawnNews
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Notification to cut PoL prices issued
ISLAMABAD: In the light of Supreme Court (SC) ruling, Oil and Gas Regulatory Authority (OGRA) has issued notification to slash petroleum product prices while the petroleum companies had been directed earlier to suspend carbon tax on petroleum products.According to the notification issued by OGRA, as much as 11 rupees per liter have been slashed from petroleum products.Following the suspension of carbon tax on petroleum products, now the new price of petrol stands at Rs. 50.53 per liter, Diesel Rs. 53.37, Light Diesel Rs. 51. 46, Kerosene oil Rs. 52.39 while HOBC stands at 62.54 per liter.According to OGRA sources, newly reduced prices will be applicable as soon as the issuance of notification.
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Supreme Court Will Hear Oil Prices Hike Case Today
ISLAMABAD: A constitutional petition filed in the Supreme Court on Thursday, challenging the recent hike in prices of petroleum products will be heard today (Tuesday).The apex court on Monday in a suo moto hearing stayed the proposed increase in electricity tariff till July 23 and directed NEPRA to furnish details regarding the electricity production cost by the same date.
A three-member bench of the Supreme Court headed by Chief Justice Iftikhar Muhammad Chaudhry heard the case on yesterday.
A full bench of the apex court will hear the petition challenging the hike in the POL prices today.
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