In an interim order issued yesterday, the Supreme Court gave the government the green-light to carry out the privatisation of the Oil and Gas Development Company Limited (OGDCL).
Ending weeks of legal wrangling, the court also directed the government to transfer the proceeds from the auction to the federal consolidated fund, barring it from utilising the auction money until the final verdict was announced.
A three-member bench of the apex court, headed by Chief Justice Nasirul Mulk was hearing the government’s petition challenging the Peshawar High Court’s order, restraining the federal government from going ahead with the sale of 10 per cent shares of OGDCL.
During the proceedings, the bench also issued notice to all provinces to deliberate over matters related to control over their mineral resources after the passage of the 18th amendment.
