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Pakistan

Web Desk
July 27, 2020

Govt orders FIA, FBR, SECP to initiate probe against sugar mills

Pakistan

Web Desk
Mon, Jul 27, 2020
The National Accountability Bureau has been ordered to conduct an audit of all sugar mills in the country. — The News/Files

The federal government has ordered the Federal Board of Revenue (FBR), Securities and Exchange Commission of Pakistan (SECP), and the Federal Investigation Agency (FIA) to initiate a probe against sugar mills based on the Sugar Inquiry Commission report, Geo News reported.

The directions to launch an investigation come after the Sugar Inquiry Commission report released last month had laid bare some startling revelations about how the prices of sugar are fixed, how exports of the commodity are faked to avail rebates on sales taxes, and how billions of rupees are overcharged by sugar mills owners.

The federal government further said that a report on the investigation should be submitted within 90 days.

Special Assistant to the Prime Minister on Accountability and Interior, Shahzad Akbar, has written to the governor of the State Bank of Pakistan (SBP), Competition Commission of Pakistan and three provinces in this regard on the directions of the prime minister.

Moreover, the National Accountability Bureau has been ordered to conduct an audit of all sugar mills in the country.

On June 10, while briefing the media about the steps approved by the prime minister, Akbar had said that the "sugar mafia" was very powerful and has connections within departments but the government is committed to taking the matter to its logical conclusion.

“The action plan has been prepared in the light of recommendations given by the inquiry commission,” he had said, adding that “some individuals have been named in the sugar scandal.”