Price control ordinance promulgated
By Asghar Ali Mubarak

ISLAMABAD—President general Pervez Musharraf has promulgated amended ordinance on price control and prevention of profiteering and hoarding which will come into force with immediate effect. This will be called the Price Control and Prevention of profiteering and hoarding (amendment) ordinance 2007. Certain amendments have been made in act-1977 in this connection.
Under this ordinance price control councils will be set up at federal and provincial level to control price of essential commodities. The federal price control council will comprise 7 members and will be headed by the prime minister. This council will include finance minister, minister for food and agriculture, minister for industries and productions, interior minister, deputy chairman planning commission, all the four chief ministers and other members nominated by the prime minister. This council will ascertain information about the prices of daily use items from different markets, review the prices fixed by competent authority in different parts of the country, monitor the performance.