MARKET DEVELOPMENT
Minister Orders Crackdown on Ghee, Oil Profiteers
Minister Orders Crackdown on Ghee, Oil Profiteers
16/03/2015 (Pakistan Observer) - Provincial Minister for Agriculture Dr Farrukh Javed has instructed price control magistrates to start a crackdown on ghee and oil profiteers.
Addressing a meeting regarding action against profiteers here at his office on Friday, he said due to substantial decrease in price of palm oil being used in vegetable ghee and edible oil in international market, more than 18 percent production cost had been decreased but economic benefit could not reached to people due to connivance of profiteers.
Dr Farrukh Javed said the Punjab government had issued orders of reducing Rs 15 per kg/liter in prices of ghee and vegetable oil under Section 3 of Price Control and Prevention of Profiteering and Hoarding Act 1977.
He asked officers of the department to ensure its implementation and also warned profiteers that imprisonment up to three years and a fine of Rs 100,000 could be imposed on violation.
The minister said no one would be allowed to exploit people in the garb of profit. He said the government would deal profiteers and hoarders with an iron hand.
Addressing a meeting regarding action against profiteers here at his office on Friday, he said due to substantial decrease in price of palm oil being used in vegetable ghee and edible oil in international market, more than 18 percent production cost had been decreased but economic benefit could not reached to people due to connivance of profiteers.
Dr Farrukh Javed said the Punjab government had issued orders of reducing Rs 15 per kg/liter in prices of ghee and vegetable oil under Section 3 of Price Control and Prevention of Profiteering and Hoarding Act 1977.
He asked officers of the department to ensure its implementation and also warned profiteers that imprisonment up to three years and a fine of Rs 100,000 could be imposed on violation.
The minister said no one would be allowed to exploit people in the garb of profit. He said the government would deal profiteers and hoarders with an iron hand.