Daily Fluctuations in Petroleum Prices Challenged in the Lahore High Court

Daily Fluctuations in Petroleum Prices Challenged in the Lahore High Court

LAHORE: Frequent and short cycle revisions in petroleum product prices have been officially challenged in Lahore High Court (LHC).

The Judicial Activism Panel submitted a miscellaneous petition, arguing that the frequent revisions in petroleum prices are putting an unfair financial strain on the people and that such revisions are causing the people to suffer from economic hardship.

The petitioner states that the government does not have a clear mechanism, which is transparent and published, for executing continuous changes in fuel prices.

The plea highlights that these frequent shifts engender a lot of uncertainty and contribute to the inflation of all critical sectors such as transportation, agriculture, daily commodities, etc.

In this petition, the bench has sought the federal government’s response in terms of a “full and comprehensive record” of all the calculations and policy mechanisms that it has been following for the daily or short-term adjustments of petroleum prices.

The court has been asked to call into question the legality of the existing notification system, and ensure that the public is protected from excessive price rises.