The Hindu Business Line : Stock-holding limit order extended another year

New Delhi, Sept. 17 The Centre has allowed State Governments to impose stock-holding limits and related restrictions in respect of private trade in rice, paddy, edible oils, pulses and sugar for a further period till September 30, 2010.

The Essential Commodities Act, 1955 provides for the issue of control orders by the Centre enabling States to undertake de-hoarding operations through fixing of stock-holding limits and licensing requirements on private traders.

In respect of rice, paddy, pulses and edible oils, the current Control Order, dated April 2, 2009, is valid only up to September 30, 2009. A similar order relating to sugar, dated July 2, 2009, is valid till January 8, 2010.

The Union Cabinet, which met here on Thursday, has decided to extend the validity period for both these orders till September 30, 2010. This comes in the wake of spiralling prices in most food articles amidst concerns over production prospects for the current year’s kharif crop.

For the week ended September 5, the official wholesale price index-based annual inflation rate for all commodities stood at 0.12 per cent.

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Stock-holding limit order extended another year