ISLAMABAD: The Supreme Court of Pakistan has given interim verdict to suspend the enforcement of the carbon surcharge tax, Geo News reported Tuesday.
The bench headed by Chief Justice of Pakistan Iftikhar Muhammed Chaudhry heard the petitions filed against the raise in petroleum prices.
In case, the carbon tax is withdrawn on petroleum products, the petrol price is expected to come down by Rs10/lit and diesel price to lower by Rs8/lit and the kerosene oil to come down by Rs6/lit.
The apex court directed Oil and Gas Regulatory Authority (OGRA) to issue notification regarding suspending the carbon tax on petroleum products.
Talking to media, Senior Counsel Akram Chaudhry said that the higher judiciary cancelled the notification issued on June 30 and directed to stop charging the carbon tax until the Court concludes hearing.
Attorney General of Pakistan Lateef Khosa, Secretary Petroleum and representative of OGRA attended the hearing.
Commenting on the verdict, Adviser on Petroleum Dr Asim Hussain said the price of petroleum products will return to pre July 1 level, adding the ministry of petroleum respects the verdict of higher judiciary.
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