Wednesday January 19, 2022

Governor signs Amendment Ord 2022 to curb profiteering, hoarding

January 15, 2022

LAHORE:The Punjab government has intensified a crackdown on profiteers and hoarders. In this regard, Punjab Governor Chaudhry Muhammad Sarwar has signed an ordinance to amend the Price Control, and Prevention of Profiteering and Hoarding Act, 2022.

A Price Control Council will be set up which will be headed by the chief minister. Punjab Governor Chaudhry Sarwar, on the occasion of signing the Amendment Ordinance 2022 to curb profiteering and hoarding, said that the present government under the leadership of Prime Minister Imran Khan was pursuing a policy of making the country and the people strong and prosperous. He said that the profiteers did not deserve any mercy. The government institutions will take stern action against them and provide maximum relief to the people and the rule of law will not be compromised, he added. The governor said that strict action would be taken against profiteers and hoarders through the AmendmentOrdinance 2022 to curb profiteering and hoarding. The other 11 members of the Council are provincial minister for industries, commerce and investment, minister for livestock and dairy development, minister for agriculture, minister for food, chief secretary Punjab, planning and development chairman, additional chief secretary home, secretary industries, secretary agriculture, secretary food, secretary livestock while the chief minister can nominate one member at his will.

Chaudhry Sarwar further said that the Punjab Price Control Council would get information about the prices of essential commodities from different markets and would review the prices fixed by the competent authority, by the Special Price Control Magistrates. He said that 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 carries a minimum of one month imprisonment and a fine of Rs100,000 while a maximum of three years imprisonment and Rs100,000 fine. If a person commits this crime again, the minimum punishment is one year imprisonment and a fine of Rs45,000.