One of the most significant actions performed by the Government of Punjab protection of the citizens against the price manipulation and unfair trading is the Punjab Price Control of Essential Commodities Act 2024. The law directly affects the life of the ordinary citizens since this law is used to control the pricing and availability of basic products such as food items, medicines, fuel among other basic requirements. In-depth knowledge of this Act is important to those candidates who have to take the PPSC exam because examiners usually challenge knowledge of the new and related legislation by challenging it in the form of an MCQ.
Importance of Punjab Price Control of Essential Commodities Act 2024
In enacting the Punjab Price Control of Essential commodities Act 2024, the poor pricing and affordability of essential commodities were taken into consideration. Artificial shortages, hoarding as well as profiteering were common complaint areas before this law. These were practices that posed tremendous issues to the populace, particularly people of low-income origins. Through this Act, the government has sought to establish a balance between market supply and consumer demands and it has also maintained tight controls on traders and businesses who engage in unfair business practices.
Key Provisions of the Act
This is under the Punjab Price Control of Essential Commodities Act 2024 which places the power to impose a maximum retail price on essential commodities upon the government. It also gives the market control capabilities to the intelligence in charge of the market through the monitoring to make sure that the traders abide by the prices projected. Violators who use one of their tricks to take advantage of consumers, overpricing or hoarding, are subject to heavy penalties, such as monetary fines and jailing. These are not only the strategies that are protecting the rights of the consumers, but also the ones that stabilize the market through the seamless supply.
Relevance for PPSC Exams
Punjab Price Control of Essential Commodities Act 2024 forms an immensely relevant law to competitions of aspirants who have appeared in competitive exams. Since this Act is a new legislation it is an appealing subject to examiners, particularly under the questions on General Knowledge, Current Affairs and Law part. Becoming familiar with its provisions, fines, and administrative authority mechanisms could assist a candidate in more correctly tackling MCQs, and also, in providing easier discussions at an interview that may require a practical understanding of this law.
1. The Punjab Price Control of Essential Commodities Act 2024 also goes by the name:
- a) Act IX of 2024
- b) Act VI of 2024
- c) Act VII of 2024
- d) Act VIII of 2024
2. The principal goal of this Act is to:
- a) Promote exports
- b) regulate foreign investment.
- c) Subsidize the essential commodities.
- d) Increase taxation
3. and the notifying bodies of the necessary commodities in this Act are:
- a) National Assembly
- b) Provincial Assembly
- c) Government of Punjab
- d) Local Councils
4. This Act permits appointment of Price Control Magistrates by:
- a) Federal Government
- b) District Councils
- c) Provincial Government
- d) Judiciary directly
5. The Act aims to prevent:
- a) Foreign trade
- b) Wage increases
- c) Hoarding and profiteering
- d) Political disputes
6. It is under this Act that overcharging of essential commodities is touched:
- a) Civil wrong only
- b) Normal business
- c) An offence
- d) Authorized on emergency occasions.
7. Which are the powers of inspection with the Act?
- a) Local Shopkeepers
- b) Police only
- c) Price Control Magistrate/Inspector
- d) Court Clerk
8. Over charging will be penalized by:
- a) Reward and bonus
- b) Government subsidy
- c) Fine or imprisonment
- d) Business promotion
9. The Act also covers just allocation of the commodities to:
- a) Factories only
- b) Politicians only
- c) General public
- d) Exporters
10. he government can use the Act to:
- a) Reduce population
- b) Change education laws
- c) Put a ceiling on the prices of basic commodities.
- d) Ban technology imports
11. Where a trader refuses to sell at the price quoted it is:
- a) Encouraged
- b) An offence
- c) A lawful act
- d) A civil contract
12. Who will issue orders to moderate supply of commodities?
- a) Prime Minister
- b) Federal Board of Revenue
- c) Provincial Government
- d) Police Inspector
13. Hoarding under the Act means:
- a) Selling openly
- b) Hooping up commodities with the view to creating artificial scarcity.
- c) Selling at discount
- d) Government subsidy
14. A trader convicted under this Act can be fined:
- a) Awards
- b) Promotion
- c) Fine, imprisonment or cancellation of license.
- d) Nothing
15. Which part of the Act is concerned with penalties?
- a) Section 2
- b) Section 4
- c) Section 12
- d) Section 1
16. In: may be appealed to on price control order in respect of an order of Price Control Magistrate.
- a) Local Union Council
- b) Provincial Assembly
- c) Court of Sessions
- d) Federal Ministry
17. What are the most important commodities?
- a) Luxury cars
- b) Smartphones
- c) Food, drugs, fuel, things of daily use.
- d) Jewelry
18. Price control is aimed at the assurance of:
- a) Profits for traders
- b) Affordability for public
- c) Inflation increase
- d) Export growth
19. Any charge more than that which should be charged in accordance with this Act as to any single item:
- a) Allowed
- b) Encouraged
- c) Punishable offence
- d) Ignored
20. Inspectors are entitled by the Act to:
- a) Close schools
- b) Conduct elections
- c) Peruse records, stores and warehouses.
- d) Make laws
21. The Act implemented in Punjab during the following year:
- a) 2023
- b) 2024
- c) 2022
- d) 2021
22. Also breach of this Act can result in:
- a) Government rewards
- b) Subsidy offers
- c) Suspension of license or closing down of premises.
- d) Promotion in trade
23. The Act is enhanced by the role of:
- a) Private companies
- b) Political parties
- c) District Administration Magistrates.
- d) Sports Boards
24. And which is the overall making of enforcing this Act?
- a) Federal Cabinet
- b) Punjab Assembly only
- c) Government of Punjab
- d) UN Agencies
25. The Price Control Committees help in:
- a) Promoting exports
- b) Increasing profits
- c) keeping an eye on prices at the district level.
- d) Changing tax laws
26. The Act helps to reduce:
- a) Fair trade
- b) Consumer rights
- c) Inflationary expropriation.
- d) Imports
27. Essential Commmodity Pricing is presented by:
- a) Newspapers only
- b) Social media only
- c) Government statements.
- d) Private TV ads
28. What is the section which defines essential commodities?
- a) Section 5
- b) Section 2
- c) Section 10
- d) Section 12
29. repeat offence punishable as:
- a) No action
- b) Government help
- c) Fine and wider imprisonment.
- d) Only a warning
30. Price Control Magistrates control equal amount of powers:
- a) Police constable
- b) Revenue officer
- c) Judicial Magistrate
- d) Ordinary citizen
31. The Act limits activities of the business that result in the creation of:
- a) Discounts
- b) Artificial shortage
- c) Employment
- d) Competition
32. Traders are bound to display:
- a) Bank accounts
- b) Political posters
- c) lists of prices of basic commodities.
- d) Personal photos
33. In case a trader is identified to be hoarding, it may be stock:
- a) Destroyed
- b) Exported
- c) Seized by government
- d) Left untouched
34. The Act benefits mainly:
- a) Traders
- b) Exporters
- c) Consumers
- d) Politicians
35. The power to fix prices falls with:
- a) Local shopkeepers
- b) Government of Punjab
- c) Federal Cabinet
- d) Judiciary
36. The Act can be enforced in:
- a) Only villages
- b) Only Lahore
- c) All of Punjab province
- d) Only cities
37. The Act discourages:
- a) Fair competition
- b) Black marketing
- c) Public welfare
- d) Low pricing
38. More hoarding punishment may include:
- a) Business award
- b) Nothing
- c) Seal of premises and fine.
39. The Act plays a role in:
- a) Political reforms
- b) Market stabilization
- c) Sports development
- d) Cultural promotion
40. Updates to essential commodities list may be made by:
- a) Traders
- b) Consumers
- c) Punjab Government
- d) Courts only
41. The Act applies to:
- a) Only exporters
- b) Importers only
- c) Every trader of commodities of necessity.
- d) Industrialists only
42. Transparency in the Act is achieved by:
- a) Hidden deals
- b) Verbal orders
- c) Written notifications
- d) Secret contracts
43. The Act helps to cope with a shortage brought about by:
- a) Technology gaps
- b) black marketing and hoarding.
- c) Population growth
- d) Natural disasters only
44. The Price Control Magistrates may impose:
- a) Subsidies
- b) Discounts
- c) Fines and punishments
- d) Promotions
45. The government is empowered to check by the Act:
- a) Personal businesses
- b) inventory and reasonable prices.
- c) Social activities
- d) Industrial loans
46. The law deters the traders not to:
- a) Selling fairly
- b) Unreasonable profits.
- c) Following law
- d) Serving customers
47. Section 1 of the Act deals with:
- a) Penalties
- b) Appeals
- c) Short title, extent and commencement.
- d) Definitions
48. The Act helps maintain:
- a) Political unity
- b) Economic stability
- c) Entertainment
- d) Military power
49. Who is the body to seize goods under hoarding suspect?
- a) Shopkeeper
- b) Trader Union
- c): Price Control Inspector/Magistrate.
- d) Consumer only
50. This Act guarantees the safety of citizens of Punjab against:
- a) Low prices
- b) Fair trade
- c) Profiteering of the basic commodities.
- d) Industrial taxes
Conclusion
Simply put, the Punjab Price Control of Essential Commodities Act 2024 protects the community against being exploited and at the same time upholds fair trade. Students and those seeking employment need to learn this Act because of the exams and also because of how the policies issued by the government impact the lives of the citizens directly.
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