Federal cabinet approves ordinances containing stern penalties against stockings

Federal cabinet approves ordinances containing stern penalties against stockings..

ISLAMABAD: The federal cabinet has approved an ordinance containing stringent penalties against stocks that will be applicable only within the federal capital Islamabad.

Approval of Ordinance Approved by Circulation Summary According to the ordinance, those involved in storage will be sentenced to three years imprisonment and fifty percent of the value of confiscated goods.

Instead of employees of the company involved in the storage, the owner will take action. Individuals who indicate storage will be rewarded with ten percent of the value of the seized goods.

The official officer shall be the deputy commissioner or officer appointed by him, the public officer shall have the authority to raid and close any warehouse.

According to the ordinance, the government officer will also have the option of auctioning the seized goods.

The deputy commissioner will have the option of arresting without a warrant and the arrest of the stewards will be guaranteed.

The stockists will be tried in a special magistrate's court and the special magistrate will complete the trial within 30 days.

Each dealer is obligated to provide stock related information. The dealer who gives the wrong information will be sentenced to three years imprisonment and a fine of Rs one lakh. The government officer will be able to get help from law enforcement during the proceedings. The ordinance will apply with the approval of the President, who has been sent to the Head Office for signing.