Punjab minister asks businessmen to not panic on ordinance

Punjab minister says no action will be taken against those who declare stock

LAHORE: The business community should not panic on Anti-Hoarding Ordinance, no action would be taken against those who declare their stock and reveal necessary details to the concerned authority, assured Punjab Minister for Industries and Trade Mian Aslam Iqbal.

While speaking at the Lahore Chamber of Commerce and Industry (LCCI), Iqbal said that the business community is the backbone of the economy and the government is taking all possible measures to ensure a business-friendly environment. Moreover, the minister acknowledged that the reservations of the business community are genuine and they will be addressed.

Sharing details about the ordinance he said that an act regarding hoarding already existed previously, however, additional clauses have been incorporated in the new ordinance. Iqbal further added that in the light of the Ordinance, dealers would have to give information regarding the production of items, imports, exports, purchase, stock and other relevant details.

“The step aims to protect the masses,” he said, adding that the Punjab government has already completed mapping of the stocks and has a 99% record. Shedding light on the coronavirus pandemic and it impacts, the minister commented, “Not only dealing with coronavirus but keeping the economic wheel running is also a challenge for the government.”

“Less risk-prone industries have already been reopened and decision regarding opening up business activities in Ramazan will be taken in the coming days.”

LCCI President Irfan Iqbal stated that no action should be taken against those businessmen who declare their stocks and other details. He added that there is a minor difference between stocks and hoarding therefore the government should define the difference clearly to stop misuse of recently promulgated Ordinance regarding hoarding. 

Published in The Express Tribune, April 26^th, 2020.

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