Sugar Millers Made Billions, Now They Must Pay: Public Accounts Committee

Members of the Public Accounts Committee (PAC) on Tuesday sharply criticized the federal 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. PAC Chairman warned that sugar mill owners had earned billions and must now be held accountable for relief to consumers. 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 the Federal Board of Revenue’s SRO and the justification for reducing the sugar import tax from 18 percent to 0.25 percent.