Price Control and Prevention of Profiteering and Hoarding Act 1977
Price Control and Prevention of Profiteering and Hoarding Act 1977, which is commonly known as Price Control Act, was promulgated on 25th May 1977. It is a federal statute which means it extends to the whole of Pakistan. Under this act excessive profiteering and hoarding of essential commodities are illegal and punishable under law. Schedule of this act contain the details of all essential commodities which is very comprehensive.
In Punjab Govt. appointed the price control magistrate under this act who have power to arrest and fine anyone at the spot who violate this law. Overall this is good for general public but its proper and honest implementation is remained a big issue.
Click on the link below to download the free PDF file of this act.
The Price Control and Prevention of Profiteering and Hoarding Act 1977
Dear Sir,
I am deeply sad about price controls matters. I am trying to find out that is there any law to prevent profiteering charging above the printed price by the producers for items like cool drink juice and bakery things. How system deals with shops in small cities (e.g. Pattoki, okara). Are they authorized to charge above the printed price label on the product?
I do apologize for taking your time.
Thank you in anticipation.
Regards
Muhammad Siddique