CJP Nisar questions Petroleum products Rate Hike

Chief Justice Saqib Nisar expressed his discontent on the recent hike of another Rs 7.5 in petroleum prices, in a case hearing on the issue, comprising a three-member bench of the Supreme Court along with Justice Ijazul Ahsan and Justice Umar Ata Bandial.

The judges expressed their dissatisfaction at the increase in prices, equating these rate hikes to indirect taxation and questioned the premise behind custom duty and sales tax being levied on petroleum products. The judges directed the government to find a way forward to ease the burden on the common man.

Effective July 1, the prices of petrol, diesel, kerosene oil, light diesel and high-speed diesel had been jacked up by Rs7.54, Rs14.00, Rs3.36, Rs.5.92 and Rs6.55 respectively, bringing the new per-litre prices to Rs99.50, Rs119.31, Rs87.70, Rs80.91 and Rs105.31.

When told that the price hikes were in response to rising prices of oil in the global market and the recent currency devaluations, the chief justice remarked that adjustment in taxation should be brought about to ease the burden of the common man.

The next hearing for the case has been adjourned till Sunday, July 8 on recommendation of the deputy attorney general that suggested bringing the federal government on board regarding the matter.