RAWALPINDI:
According to a report, billions of rupees charged in excess to the general public with effect from June 13, 2013, by including the proposed one per cent additional general sales tax in the prices of gas and gasoline without its prior approval by parliament, are to be recovered from the petrol and gas stations in the country. It is, however, yet to be decided whether the recovered amount would be reimbursed to the general public or kept in the government exchequer. Till it is decided, and this could take some time, the recovered amount has been ordered to be kept with the registrar of the Supreme Court. Naturally, the registrar would keep the amount in some bank where it could accrue substantial profit. Any bank would, therefore, welcome such a huge deposit and could offer competitive terms of mark-up to have it.
Would, therefore, any open and transparent tenders be invited from the banks for depositing this amount? Would the honourable Supreme Court also ensure that the funds in the bank and all accrued mark-up is distributed amongst the general public, as and when the matter of keeping the recovered amount with the government exchequer or reimbursing to the consumers is decided?
Col (retd) Riaz Jafri
Published in The Express Tribune, June 21st, 2013.
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