Islamabad: The federal government has issued an anti-hoarding ordinance to check artificial goods shortages and profiteering in the wake of the country’s ongoing COVID-19 lockdown, a news source reported.
Federal Minister Law and Justice Barrister Dr Farogh Naseem on Sunday explained the ordinance that the maximum penalties for hoarding essential materials, including wheat, flour, sugar, ghee, face masks and sanitizers, amount to three years imprisonment and a fine that goes up to 50 percent value of the seized products.
Some reports also suggest that the authorities would fine PKR 1 million those who fail to provide audit information – even if hoarding could not be proved. The penalty is also extended to clutching those involved in market manipulation, speculative dealings and creating artificially high prices.
Similarly, the government had prepared an anti-smuggling ordinance to check the smuggling of essential food items and dollars, among various others. The ordinance has been dispatched to Prime Minister (PM) Imran Khan for evaluation and approval.
