Governor Chaudhry Mohammad Sarwar on Friday signed and issued an ordinance to amend the Price Control, and Prevention of Profiteering and Hoarding Act, 2022 as the provincial government intensified the crackdown on profiteers and hoarders.
A Price Control Council will be set up which will be headed by the Chief Minister Punjab.
Speaking on the occasion of singing of Amendment Ordinance 2022, Governor Punjab said that incumbent government under the leadership of Prime Minister Imran Khan is pursuing a policy of making the country and people strong and prosperous.
He said that the profiteers do not deserve any mercy.
Government institutions will take stern action against them and provide maximum relief to the people and the rule of law will not be compromised.
Chaudhry Sarwar said that strict action will be taken against profiteers and hoarders through the Amendment Ordinance 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, Chairman Planning and Development, Additional Chief Secretary Home, Secretary Industries, Secretary Agriculture, Secretary Food, Secretary Livestock while the Chief Minister Punjab can nominate one member at will.
Governor Punjab 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 it will 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 Rs.
100,000 while a maximum of three years imprisonment and one lac fine.
If a person commits this crime again, the minimum punishment is 1 year imprisonment and a fine of 45,000 rupees.
