Letters of credit (L/Cs) are to be examined by the Pakistani authorities as they investigate suspected irregular compressed natural gas (CNG) imports.

The dubious imports are part of a wider inquiry into applications and marketing licences issued since 2008 for setting up CNG stations.

Court orders

The L/Cs are amongst documents requested by Pakistan's Supreme Court.

It has also ordered the Federal Investigation Agency (FIA) to seize records kept by the Oil and Gas Regulatory Authority (OGRA) relating to CNG stations that may have been illegally established.

Illegal outlets

In 2008, Pakistan banned the establishment of CNG stations, but the court has been told that hundreds of outlets have been established since then.

Former prime minister, Yousuf Raza Gilani, is accused of issuing licenses for 450 CNG station licences in collusion with former head of OGRA, Tauqir Sadiq.

Another former prime minister, Raja Pervez Ashraf and a former petroleum minister Dr Asim Hussain, are also implicated in the CNG station investigation.

L/C request

The L/Cs ordered by the court relate to CNG imports ordered during a relaxation of import restrictions in 2009 and 2011.

The court wants to see the L/C documentation to determine the identity of importers active during those periods and to establish where the CNG was sold.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.