Traders seek further clarification on anti-hoarding ordinance

LCCI president says govt must define difference between 'stock' and 'hoarding' to stop misuse of recently promulgated ordinance

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LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Irfan Iqbal Sheikh has called upon the government to define the difference between stock and hoarding to stop the misuse of recently promulgated Anti-Hoarding Ordinance.

He was addressing a press conference at the LCCI on Tuesday.

LCCI Senior Vice President Ali Hussam Asghar, Vice President Mian Zahid Jawaid Ahmad, REAP Chairman Shah Jahan Malik, Poultry Association of Pakistan Chairman Chaudhry Muhammad Furqan, Seed Association of Pakistan Chairman Chaudhry Bilal Ahmad and Asia Pacific Seed Association President Tahir Saleem also spoke on the occasion.

They said the recently issued ordinance had created unrest among the business community as there was no clear definition of “difference between stock and hoarding”. They said that business community was expecting that the government would consult with the trade bodies for necessary rectification in this regard.

The traders informed that seed companies were not being allowed to purchase basic and verified seed of wheat, while the food department was forcefully purchasing seed from growers of Punjab and Sindh.

How will the next crop of wheat be sown when seed would not be available? they questioned.

They said that seed was not prohibited in the Anti-Hoarding Ordinance, but the food department authorities and district administrations were not allowing private companies to lift the seed, and this could reslt in a massive crisis.

The business community has always taken a strict stance against hoarding practices as they result in unnecessary shortages, especially of essential commodities, and sudden price hikes, they added.

The tarders demanded that the Anti-Hoarding Ordinance should not be used to hinder legal businesses, and the business community would ensure that there was no artificial shortage of rice, edibles and other commodities in the market.

They said the rice and other commodities dealers would have to maintain stock at factories and warehouses for their smooth business operations and they should not be targeted because of those stocks.

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