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Govt not buying BP asset, SC told

ISLAMABAD: Counsel for the Oil and Gas Development Company Limited and Pakistan Petroleum Limited apprised the Supreme Court of Pakistan here Tuesday that the government had no intention to purchase $800 million assets of the British Petroleum.
They assured the court that their clients would not buy the assets at higher prices as their bidding was already low, which had not been entertained.
A three-member bench headed by Chief Justice Iftikhar Mohammad Chaudhry disposed of the petition, which was filed by former Jamaat-e-Islami Amir Qazi Hussain Ahmed.
Qazi Hussain Ahmed had filed a plea against the government’s bid to purchase its sold-out assets from the British Petroleum (BP) at higher rates, and claimed that it would cause a loss of $800 million to the national exchequer.
His counsel had contended that the government had first sold the assets to the same company at a low price and now was buying it at an exorbitant price. -APP


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