LAHORE: A significant legal challenge has been brought before the Lahore High Court, questioning the government’s recent decision to raise petroleum prices by Rs 55 per litre. The petition, submitted by Azhar Siddiq, an advocate representing the Judicial Activism Panel of lawyers, seeks judicial intervention to address what is seen as an unjustified and burdensome increase in fuel costs.
The petitioner expressed deep concerns that this sharp escalation in petroleum prices will have far-reaching consequences across multiple sectors. It is feared that the hike will trigger a domino effect, leading to increased transportation costs, which in turn will push up the prices of electricity, agricultural inputs, and essential food items. These developments could exacerbate the already challenging economic conditions faced by ordinary citizens.
Highlighting the availability of fuel reserves, the petition draws attention to the fact that Oil Marketing Companies currently hold approximately 15 days’ worth of petroleum stocks. This stockpile, the petitioner argues, undermines the rationale behind the sudden price increase, suggesting that there is no immediate supply shortage to justify such a steep rise. The petition warns that this move could ignite a wave of inflation, severely impacting the purchasing power of the general public.
In addition to challenging the price hike itself, the petition requests the court to mandate the Oil and Gas Regulatory Authority (OGRA) and the Ministry of Energy to provide a detailed account of the existing petroleum reserves. This transparency is sought to ensure that the decision to increase prices is based on factual supply-demand dynamics rather than arbitrary policy choices.
Furthermore, the petitioner has urged the court to declare the official notification authorizing the increase in petroleum prices as null and void. This legal plea aims to protect consumers from the immediate financial strain and prevent further inflationary pressures on the economy. The case is expected to draw significant public and media attention, given the critical role of fuel prices in Pakistan’s overall economic stability.
