LAHORE   -  MIAN DAWOOD   -  The Lahore High Court on Thursday directed Pakistan Electronic Media Regulatory Authority to decide an application strictly in accordance with the law within two weeks, while hearing a petition challenging issuance of TV licenses to Bol News and Bol Entertainment.The petition was moved by Azhar Siddique advocate on behalf of Agha Shahid Rasheed, who is a former president of the PTV Employees Union.The petitioner submitted that under Pemra Ordinance 2002, the ownership of any media house should be known to everyone. He said that for couple of weeks a barrage of rumours were floating on social media about the launch of biggest media group that would offer stupendously high salaries to journalists and this would ultimately affect the independence and impartiality of the media.The petitioner said he wanted the actions of official respondents to be reviewed to check whether they had performed their statutory functions while granting permission to Axact (Private) Limited for launching the biggest media group in Pakistan. The new group comprises two companies, Axact (Pvt) Ltd and Labbaik (Pvt) Ltd, the counsel pointed out, adding that despite the hype and attractive website, nothing about the Axact or its business was known so for and no one knew the name of its single client in Pakistan.He said in the petition that Pemra must immediately identify the ‘real’ owners of the Labbaik, the sources of their funds, direct them to submit a financial plan for three years and forward their names to the Interior Ministry for security clearance.The petitioner demanded the implementation of the Rule 7 of Pemra ordinance by stating that the authority must immediately assess eligibility of new owners of the Labbaik and until that restrain the company from commencing broadcasting of Bol News and Bol Entertainment.  The petitioner asked the court to direct Pemra to cancel the licenses of Bol News and Bol Entertainment because they were issued in violation of laws, rules and regulations. He said the Federal Investigation Agency and National Accountability Bureau should be directed to investigate the sources of funds being injected into the group. He said the real ownership and business of the said companies should be unearthed as it is a right of the people.He also requested the court to direct the federal government, Information Ministry and Pemra to submit the entire record of the Axact and Labbaik.Justice Mansoor Ali Shah heard the initial arguments and directed Pemra to decide the application in accordance with law and disposed of the petition.