MCQs The Punjab Price Control of Essential Commodities Act, 2024
The Punjab Price Control of Essential Commodities Act, 2024 is a legislative framework enacted by the Punjab Assembly on 14 June 2024, aimed at regulating the price, supply, and trade of essential commodities within the province of Punjab.
A.
Only in sessions court
B.
Summary manner or under Chapter XX of the Code
C.
Only in civil court
D.
Through tribunal only
Correct answer is:
B. Summary manner or under Chapter XX of the Code
Explanation:
Allows for swift disposal of cases, either summarily or through standard magistrate procedure.
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
National Bank only
B.
Profit-bearing account in any Scheduled Bank empowered to receive Government dues
C.
Private bank account
D.
Treasury only
Correct answer is:
B. Profit-bearing account in any Scheduled Bank empowered to receive Government dues
Explanation:
Ensures funds are secured and can accrue interest until final disposal.
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
Minister for Industries
B.
Chief Secretary
C.
Deputy Commissioner of the relevant district
D.
District Magistrate
Correct answer is:
C. Deputy Commissioner of the relevant district
Explanation:
Defined in Section 2(f) as the Deputy Commissioner of the concerned district.
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
Punjab Executive Council
B.
Price Control Council under section 3
C.
Cabinet Committee on Prices
D.
Federal Price Commission
Correct answer is:
B. Price Control Council under section 3
Explanation:
The body established under Section 3 to oversee price control matters.
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
Chief Secretary
B.
Governor of Punjab
C.
Secretary, Industries, Commerce, Investment & Skills Development Dept.
D.
District Commissioner
Correct answer is:
C. Secretary, Industries, Commerce, Investment & Skills Development Dept.
Explanation:
The Secretary of the relevant department is designated as the primary authority under Section 5(1).
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
Chief Minister
B.
Minister for Industries, Commerce, Investment & Skills Development
C.
Minister for Food
D.
Chief Secretary
Correct answer is:
B. Minister for Industries, Commerce, Investment & Skills Development
Explanation:
The Minister in charge of the relevant department heads the Council.
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
Issuing trade licences
B.
Reviewing prices of essential commodities
C.
Levying sales tax
D.
Importing commodities directly
Correct answer is:
B. Reviewing prices of essential commodities
Explanation:
This is the primary function of the Council, as per Section 3.
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
Elections
B.
Prices, production, movement, supply, and sale of essential commodities
C.
School fees
D.
Labour wages
Correct answer is:
B. Prices, production, movement, supply, and sale of essential commodities
Explanation:
Section 4 grants the power to regulate all aspects of essential commodity flow.
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
Minimum stock limits
B.
Maximum quantity of any essential commodity possessed by a producer or dealer
C.
Storage charges
D.
Import quotas
Correct answer is:
B. Maximum quantity of any essential commodity possessed by a producer or dealer
Explanation:
This clause addresses hoarding by setting a maximum stock limit.
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
Without giving notice
B.
After giving opportunity of being heard and recording reasons in writing
C.
Only with court order
D.
Without written record
Correct answer is:
B. After giving opportunity of being heard and recording reasons in writing
Explanation:
Ensures due process and accountability before taking such drastic action.
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
Apply fully
B.
Apply partially
C.
Do not apply on search, seizure, and forfeiture under this Act
D.
Apply only to appeals
Correct answer is:
C. Do not apply on search, seizure, and forfeiture under this Act
Explanation:
The Act provides its own procedures for these specific powers.
MCQs The Punjab Price Control of Essential Commodities Act, 2024
A.
All Pakistan
B.
Only Lahore Division
C.
Different localities or stages of transaction
D.
Export markets only
Correct answer is:
C. Different localities or stages of transaction
Explanation:
Allows for flexibility based on regional logistics (locality) and trade tiers (stages).
MCQs The Punjab Price Control of Essential Commodities Act, 2024