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IHC admits petition against OGDCL sale

By Our Staff Reporter 2014-11-07
ISLAMABAD: Justice Athar Minallah of the Islamabad High Court (IHC) on Thursday admitted a petition against the proposed privatisation of Oil & Gas Development Company (OGDCL) for regular hearing.

He asked the secretary of Ministry of Petroleum and Natural Resources, the OGDCL managing director and others to file their reply on next date of hearing.

The petitioner Zaheeruddin Babar through his counsel G. M. Chaudhry contended before the court that the prime minister had appointed the chairman and members of the Privatisation Commission without consulting other members of the Council of Common Interests (CCl).

That is why the commission`s road-map for privatisation of different state-owned institutions, organizations, companies lacks transparency, the petitioner said.

He alleged that instead of offloading loss-incurring organisations, the most strategic and highly profit-earning organisations such as the OGDCL are being privatised.

He said the oil and gas company was a profit-earning organisation with assets running into billions of rupees with strategic hydro carbon and mineral resources of the country.

He said that his client, a shareholder of OGDCL had pointed out various malpractices and mismanagement in the affairs of the company during an annual general meeting.

After preliminary hearing, Justice Minallah adjourned further hearing for two weeks.