Islamabad -

The Supreme Court on Thursday directed Jamshoro Joint Venture Limited (JJVL) to immediately deposit 75 per cent of its sale in the national kitty duly audited by the Chartered Accountants A. F. Ferguson.

A three-judge bench, led by Chief Justice Iftikhar Muhammad Chaudhry, comprising Justice Ejaz Ahmed Chaudhry and Justice Gulzar Ahmad resumed hearing of a matter relating to allocation of quota for LPG in response to a constitutional petition of PML-N leader Khawaja Muhammad Asif.

The court said that in its short order that JJVL will afford cost of the audit directing that 75 per cent of the sale of the Joint Venture would be deposited in the National Bank of Pakistan head office, Karachi.

Khawaja Asif informed the court that JJVL signed a contract with the Sui Southern Gas Company Limited after auction of the LPG quota during the financial year 2001-2002.

During all the proceedings, a clause of the agreement between the JJVL and SSGCL remained in question before the bench as Khawaja Asif apprised that in pursuance of the clause the contract was automatically renewable on the previous terms and conditions. He further said that the auction agreement came to an end in February 2011.

Without naming anybody, Khawaja Asif hinted that from the contractor side a huge amount was offered to deposit in a political party's account during the recent elections saying this provides sufficient grounds to understand that how much hefty profit the concerned company had earned by taking the benefit of the particular clause in the contract.

Asif urged the court to direct the authorities concerned to re-auction the LPG quota in order to safe national exchequer from substantial amount of loss.

He further informed the court that during the adjudication of the current matter in the apex court the JJVL had filed a plea before the Sindh High Court.

Khawaja Tariq Rahim, counsel for the JJVL, prayed the court for more time in the current matter saying he should be provided a chance to go through the matter in detail.

The Chief Justice rejecting his request and directed the A F Ferguson Company to conduct audit of the JJVL sale and submit that in the court on the next date of hearing and adjourned the case for two weeks.