Governor Signs Ordinance To Curb Profiteering, Hoarding

Governor signs ordinance to curb profiteering, hoarding

LAHORE, (UrduPoint / Pakistan Point News - 14th Jan, 2022 ) :Governor Punjab Chaudhry Mohammad Sarwar on Friday signed an ordinance to amend the price Control, and Prevention of Profiteering and Hoarding Act to curb profiteering and hoarding in the province.

The ordinance is part of Punjab government's crackdown against profiteers and hoarders.

Governor Punjab Chaudhry Mohammad Sarwar said strict action would be taken against profiteers and hoarders through the Amendment Ordinance 2022 to curb profiteering and hoarding in the province, adding that profiteers did not deserve any mercy.

Sarwar said government institutions would take stern action against them and provide maximum relief to the people and the rule of law would not be compromised, adding that the present government under the leadership of Prime Minister Imran Khan was pursuing a policy of providing maximum relief to the masses.

The Governor Punjab also announced the constitution of Price Control Council, headed by Chief Minister Punjab, which would comprise 11 members including Provincial Minister for Industries, Commerce and Investment, Minister for Livestock and Dairy Development, Minister for Agriculture, Minister for food, Chief Secretary Punjab, Chairman Planning and Development, Additional Chief Secretary Home, Secretary Industries, Secretary Agriculture, Secretary Food, Secretary Livestock while the Chief Minister Punjab could nominate one member of his choice.

Sarwar further said Punjab Price Control Council would get information about the prices of essential commodities from different markets and review the prices fixed by the competent authority, the Special Price Control Magistrates.

He said it would monitor the actions taken as well as ensure implementation of the Price Control Act. Violation of Sections 3 and 6 of the Punjab Price Control Act carried a minimum of one month imprisonment and a fine of Rs.100,000 while a maximum of three years imprisonment and one lac fine. If a person committed this crime again, the minimum punishment was one year imprisonment and a fine of 45,000 rupees.