Finance Minister Ishaq Dar yesterday laid emphasis on expediting the process of executive magistracy system, enabling the civil administration to take action against profiteering, hoarding and black-marketing and in stabilizing prices of essential commodities.
The issue was discussed at the 23rd meeting of the National Price Monitoring Committee (NPMC) which decided to control prices of items of daily need with the support of provincial governments and other stakeholders so that cartels, profiteers and hoarders may not make undue profits.
An official statement, quoting an official of the ministry of Inter-Provincial Coordination (IPC), informed the finance minister that the proposal has been approved by the Council of Common Interests (CCI), where all provinces have agreed to proceed on the matter at the earliest.
In July 2013, the decision for the revival of the executive magistracy system was taken in the NPMC meeting. However, even after a lapse of 15 months, the executive magistracy system has yet to be implemented.
