SC seeks proposals for setting guidelines for regulatory bodies

ISLAMABAD: The Supreme Court Wednesday sought proposals for setting guidelines pertaining to exercising of powers of by the regulatory bodies.

A three-member bench headed by Justice Umar Ata Bandial heard the petition of Competition Commission of Pakistan (CCP) challenging the stay order granted by the Lahore High Court halting the inquiry against ghee and cooking oil companies.

Last year in November, the court had had suspended the order of Lahore High Court of halting the inquiry against ghee and cooking oil companies and allowed the Competition Commission of Pakistan to continue probing price hike in daily-use commodities.

The court had held that the Competition Commission of Pakistan while exercising its powers continue inquiry against the ghee mills and further, holding that there were some flaws in the order of the high court which needs clarification.

The court sought written proposals from Attorney General Khalid Javed Khan and Competition Commission of Pakistan besides directing other parties in the case to submit their written proposals.

Attorney General Khalid Javed suggested the court to settle some guidelines for the powers of regulatory institutions as he said it was an important case pertaining to powers of the regulatory bodies.

The attorney general submitted that the Competition Commission of Pakistan had send notices to owners of various ghee and cooking oil companies after a complaints regarding price-hike in the daily use commodities were registered on the portal of prime minister.

He, however, submitted that one of companies filed a petition in the high court, challenging the notice of the Commission, adding that the high court then granted a stay on the petition.

Khalid Javed said the revenue could not be generated when cases were filed against the regulators decision, therefore he suggested that it would be appropriate that the court set guidelines pertaining to the powers of all the regulatory bodies that could ensure both the rights of consumers as well as the owners of companies as well. He further suggested that the court should also highlight its powers as well in the guidelines. Meanwhile, the court adjourned the hearing until March after seeking written proposals from attorney general as well as parties in the matter.