{"id":82431,"date":"2021-12-21T15:35:37","date_gmt":"2021-12-21T10:35:37","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=82431"},"modified":"2021-12-21T15:35:37","modified_gmt":"2021-12-21T10:35:37","slug":"punjab-curb-construction-material-profiteering","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/punjab-curb-construction-material-profiteering.html","title":{"rendered":"Punjab amends laws to curb construction material profiteering"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Lahore: The Punjab government has amended laws to discourage hoarding and profiteering of construction materials, news sources reported on December 21. The new amendment has increased the powers of the Price Control Council to monitor and fine hoarders and those who are involved in artificial price hikes of the building materials.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong>\u00a0\u00a0<a href=\"https:\/\/www.zameen.com\/news\/cm-lda-led-infrastructure-projects.html\" target=\"_blank\" rel=\"noreferrer noopener\">CM Buzdar approved LDA-led infrastructure projects for Lahor<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to sources, a decision was made to amend the law and the jurisdiction of the Price Control Council to curb the runaway prices of bricks, steel bars, and other building materials and discourage hoarding by merchants. According to the amendment, the pricing control council will be led by <a href=\"https:\/\/www.zameen.com\/news\/cm-visits-okara-inspect-projects.html\" data-type=\"post\" data-id=\"78242\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab Chief Minister (CM) Sardar Usman Buzdar<\/a>, who would supervise the implementation of fines and the registration of cases. With the adoption of the amendment, anybody selling building materials above government-set pricing faces a PKR 100,000 fine and a three-year prison. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"> <strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/monitoring-materials-quality-lda-projects.html\" target=\"_blank\" rel=\"noreferrer noopener\">Monitoring of construction materials\u2019 quality in works for LDA projects<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is worth noting that the government just announced a <a href=\"https:\/\/www.zameen.com\/news\/punjab-17-hike-construction-cost.html\" data-type=\"post\" data-id=\"82364\" target=\"_blank\" rel=\"noreferrer noopener\">17% increase in construction material prices<\/a>. According to official sources, the decision was made in response to the dollar-rupee parity. The said increase in building materials prices will take effect on January 1, 2022.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The Punjab government has amended laws to discourage hoarding and profiteering of construction materials, news sources reported on December 21. The new amendment has increased the powers of the Price Control Council to monitor and fine hoarders and those who are involved in artificial price hikes of the building materials. Read:\u00a0\u00a0CM Buzdar approved LDA-led infrastructure projects for Lahor According to sources, a decision was made to amend the law and the jurisdiction of the Price Control Council to curb the runaway prices of bricks, steel bars, and other building materials and discourage hoarding by merchants. According to the amendment, the pricing control council will be led by Punjab Chief Minister (CM) Sardar Usman Buzdar, who would supervise the implementation of fines and the registration of cases. With the adoption of the amendment, anybody selling building materials above government-set pricing faces a PKR 100,000 fine and a three-year prison. Read: Monitoring of construction materials\u2019 quality in works for LDA projects It is worth noting that the government just announced a 17% increase in construction material prices. According to official sources, the decision was made in response to the dollar-rupee parity. The said increase in building materials prices will take effect&hellip;<\/p>\n","protected":false},"author":84,"featured_media":63690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15013],"tags":[50132,50131],"persona":[],"class_list":["post-82431","post","type-post","status-publish","format-standard","has-post-thumbnail","category-construction","tag-price-control-committee","tag-punjab-amends-laws-to-curb-construction-material-profiteering","cat-15013-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Punjab amends laws to check construction material price- Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The Punjab government has amended laws to discourage hoarding and profiteering of construction materials, news sources reported on December 21.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/punjab-curb-construction-material-profiteering.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Punjab amends laws to check construction material price- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The Punjab government has amended laws to discourage hoarding and profiteering of construction materials, news sources reported on December 21.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/punjab-curb-construction-material-profiteering.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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