Page 6 - Hoarding Act News Today

KARACHI: The city administration has sought time from the Sindh High Court to propose a mechanism to resolve a controversy regarding prices of fresh milk after taking all stakeholders on board. A two-judge bench headed by Justice Mohammad Ali Mazhar reissued a notice to the All Karachi Milk Retailers Association with a direction to ensure the presence of its representative on June 10 along with its reply. It also directed the additional commissioner to file a progress report about the mechanism...

Our infatuation with controlling the prices of essential commodities is ancient. Since antiquity, our kings and their counsels have tried to keep a check on surging prices. Kautilya Chanakya, the famous philosopher and teacher of ancient India, emphasized effective price control measures in his book Arthashastra. In his time, prices were ascertained by the Superintendent of Commerce, an office that handed out fines and punishments to those found guilty of making undue profit. So, if you ...

Traders call for importing cotton from India Demand incentives until country achieves cotton production target KARACHI: Keeping in view the government’s approval of duty-free import of cotton yarn, exporters have demanded that the leadership open imports from India. They have also requested the government to extend incentives until the country achieves its yearly cotton production target. The Economic Coordination Committee (ECC) of the cabinet on Wednesday withdrew customs duty on the import...

Yarn shortage pushing industries towards closure Textile exporters say exports have dropped drastically , warn of massive layoffs KARACHI: Textile exporters have lamented that the aggravating cotton yarn crisis due to its shortage has caused a drastic decline in exports, pushing industries on the verge of closure and sparking fears of layoffs of millions of workers. At a joint press conference of various textile associations, Pakistan Apparel Forum Chairman Jawed Bilwani said, “The government...

Action ordered against retailers, farmers charging higher milk price Karachi February 3, 2021 One of dairy farmers’ cartels in the city hiked the milk price by Rs46 per litre late on Monday. The farmers’ association demanded of Commissioner Karachi Navaid Ahmed to revise the milk price every four months as per a directive of the Sindh High Court. The association asked to place a ban on the export of animal fodder and sign a free trade agreement with them to import animal fodder; otherwise...