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Punjab Revises Law to Check Racketeer of Construction Material

Lahore: The government of Punjab has revised the law to eradicate the construction materials smuggler. The new amendment bolsters the Price Control Council’s capacity to monitor hoarders of fines. Individuals responsible for fraudulently increased building material prices will also be pursued.

Read: PM Will Launch a Project of CPEC in GB Next Week, Says Murad

Sources claim that Punjab Chief Minister (CM) Sardar Usman Buzdar will preside over the pricing control council, which will oversee the imposition of fines and the filing of fees. It is also rumored that a decision was made to amend the law and the Price Control Council’s jurisdiction to prevent the price escalation of bricks, steel bars, and other building materials and discourage merchant hoarding.

Read: PKR 100 Billion Investment Expected in Lahore’s CBD in the First Year by PM

According to the new amendment, anyone who sells building goods at rates above those set by the government will be fined PKR 100,000 and imprisoned for three years. Notably, the government has just announced a 17% increase in the cost of building supplies. The move was made in response to the dollar’s parity with the rupee.

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