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February 22, 2020

PM Imran Khan forms three-member body to probe sugar price hike

Top Story

February 22, 2020

ISLAMABAD: Prime Minister Imran Khan has constituted a three-member committee headed by director general FIA as convener to conduct an inquiry into recent increase in sugar prices.

The other two members of the committee include Intelligence Bureau (IB) officer of not below BPS-20/21 and director general Anti-Corruption, Punjab. The convener may co-opt for any other member.

The committee shall identify and fix responsibility, if any, on any individual, officer or organisation or any purported benefit to a private party, besides suggesting a way forward for future course of action. According to a notification, the committee will look into the matter from various angles, keeping in view mainly 14 questions, which include was export of sugar justified? Any subsidy was given on its export and its impact, with potential beneficiaries?

The other questions for the committee are: whether the production this year was low as compared to past years/was minimum support price sufficient? Did the mills purchase sugarcane at exorbitantly higher prices than minimum support price; if yes, reasons thereof? Reasons for the mills not purchasing sugarcane, for a limited period of a few weeks from farmers and its impact, if any, on sugar price? Basis for determination of ex-mill price and reasons for increase in ex-mill price? Market manipulation/cartelisation by sugar mills? Impact of tax increase on sugar price at ex-mill/retail level? Hoarding at wholesale/retail level and within sugar mills, vis-à-vis stocks of last year.