ISLAMABAD: The Ministry of Law and Justice on Tuesday finalised the draft of a presidential ordinance envisaging exemplary punishment for profiteers and hoarders creating artificial shortage of essential items during the ongoing emergency-like situation due to the coronavirus pandemic.

According to spokesperson for the ministry Farighna Mughal, Prime Minister Imran Khan has given the task to Law Minister Farogh Naseem for the purpose. She said 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 the draft law had simplified the procedure to make arrests as well as confiscation of the hoarded commodities easy.

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.

PM Khan also shared this information after presiding over a meeting of the National Coordination Committee (NCC). He said the hoarders would get strict punishment and the law in this regard was being promulgated. He warned that unlike the past practice, 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 told Dawn.

PM Khan had issued a stern warning to hoarders and profiteers, saying the state would “make an example out of you”. He said that when people hoarded products, their prices increased and as a result the poor were left out. He warned people against increasing prices artificially to earn profit. “Those who want to make money from the hunger of the poor, the state will take strict action against them,” he said.

Published in Dawn, April 15th, 2020