MNAs Blame Govt for Defrauding Nation of Rs. 287 Billion With Artificial Sugar Price Hikes

The Public Accounts Committee (PAC) on Tuesday held a heated session on the sugar crisis, with members blaming the government for defrauding the nation of Rs. 287 billion due to artificial sugar price hikes. PAC Chairman Junaid Akbar Khan demanded a complete list of sugar mill owners, while members questioned why the government was hesitant to disclose names. PAC member Riaz Fatiana accused the authorities of suppressing officials who raised alarms, including Punjab’s former Cane Commissioner Zaman Wattoo. Officials from the Federal Bureau of Revenue (FBR) provided directors’ names but deferred full ownership details to the Securities and Exchange Commission of Pakistan. PAC warned that failure to disclose the names would result in a lawsuit. PAC members also criticised the government’s sugar export policy, pointing out that sugar was exported when local prices were already high, reaching Rs. 143/kg during the export period and now standing at Rs. 173/kg. Officials from the Ministry of Industries revealed that Pakistan produced 7.66 million metric tons of sugar last year, with a surplus of 1.3 million tons. Despite this, 790,000 tons were allowed for export, earning over $400 million. PAC questioned the overnight issuance of tax exemptions via FBR’s SRO and the justification for reducing sugar import tax from 18 percent to 0.25 percent. PAC Chairman warned that sugar mill owners had earned billions and must now be held accountable for relief to consumers.