Pakistan bringing in legislation to target hoarders and profiteers

The ministry of law and justice of Pakistan has finalised the draft of a presidential ordinance envisaging exemplary punishment for profiteers and hoarders creating an artificial shortage of essential items during the ongoing emergency-like situation due to the coronavirus pandemic.

According to ministry spokesperson Farighna Mughal, Prime Minister Imran Khan has tasked Law Minister Farogh Naseem with this.

She said that the proposed law would be promulgated through a presidential ordinance.

Although the punishment for profiteering and hoarding will be the same three years as envisaged under the Price Control and Prevention of Profiteering and Hoarding Act 1977, a law ministry official said that the draft law had simplified the procedure to make arrests as well as confiscation of the hoarded commodities easier.

The proposed law, which requires a presidential nod, would empower the administration to auction the hoarded material as well, he said, adding that the law minister had submitted the draft of the ordinance to the prime minister.

Prime Minister Khan also shared this information after presiding over a meeting of the National Co-ordination Committee (NCC).

He said that hoarders would receive strict punishment and that the law in this regard is being promulgated.

Khan warned that unlike in the past, the new law would empower law enforcement agencies to arrest the man on the top, and not middle or managerial level staff.

The prime minister had in his address to the nation on March 30 assigned this task to the law ministry, the official said.

The prime minister had issued a stern warning to hoarders and profiteers, saying that the state would “make an example out of you”.

He said that when people hoard products, prices increase, and as a result the poor are left out.

Khan warned people against increasing prices artificially for profit.

“Those who want to make money from the hunger of the poor, the state will take strict action against them,” he warned.