Sugar association opposes new legislation
National
May 20, 2021
LAHORE: Pakistan Sugar Mills Association (Punjab Zone) has termed legislation by Punjab Assembly black law for sugar mills.
Imprisonment term has been increased from one year to three years while fine increased from Rs1 lakh to Rs5 lakh, a spokesperson of PSMA said here on Wednesday. The recent amendment in the Punjab Sugar Factories Control Act, 1950 has turned it into the strictest law for the sugar industry, he claimed.
Under this amendment, he added, trial of the accused will be held before a section 30 magistrateâs court instead of an ordinary magistrateâs court. Not only that, he continues to say, but recently the Sugar Supply Chain Management Order 2021 has been introduced to regulate the sugar industry, which is another black law that could be a prelude to the closure of a business.
Daily Times
May 13, 2021
Market regulations are exercised to ensure efficiency in production, streamline standard-setting, and provide protection to consumers by ensuring quality products at competitive prices. Alternatively, regulations are aimed at providing a legal framework to create a business environment based on healthy competition for improving economic efficiency, developing competitiveness, and protecting consumers from anti-competitive practices. Though regulations in the market are often justified, they do not always achieve their social objectives or live up to public expectations. The success or effectiveness of regulations is complementary to well-functioning, transparent, and accountable institutional environment. Any friction either at legislation stage or at enforcement stage may result in regulatory failure. Similar might be the effect of an ineffective dispute settlement mechanism. Sugar industry in Pakistan is a case of regulatory failure where we have observed