Miftah for probe into sugar export ‘crisis'

Business Recorder

29-07-2025

KARACHI: Former federal finance minister Miftah Ismail on Monday called for a thorough investigation into the country's recent sugar export crisis alleging that the policy benefited only a select group of sugar mill owners and was driven by vested government interests.
Addressing at a press conference in Karachi, Ismail categorically rejected corruption allegations levelled against him by two senators from the Pakistan Muslim League-Nawaz (PML-N), terming them 'baseless and politically motivated.'
He singled out PML-N leader Tariq Fazal Chaudhry, stating that the former minister had already apologised to him privately for making false accusations regarding the Benazir Income Support Programme (BISP).
'I was in jail when the funds for this program were raised,' Ismail said, insisting he had no involvement in the alleged mismanagement.
'These allegations are being made simply because I speak the truth about the failures of this government,' he said, adding that if Chaudhry or any other accuser has evidence, they should bring it forward. 'Otherwise, apologise or be ready to face the court,' he added.
Commenting on the sugar export policy, the former finance minister said the export was deliberately carried out to create an artificial price hike.
'Sugar was exported to make it expensive. Only mill owners benefited, and the decision was taken in an organised way,' he alleged.
In a surprising revelation, Ismail said that the foreign minister was made the head of the committee overseeing sugar matters — a move he described as unprecedented and a reflection of the government's conflict of interest.
'This is not just about sugar; this is about the government's priorities,' he said.
Ismail also criticised the federal government's policies, especially in the agriculture and energy sectors.
'The current government is not farmer-friendly. The farming community has been left to suffer while sugar barons thrive,' he said, expressing concern over rising input costs and a lack of subsidies.
On the issue of power tariffs, Ismail lamented the growing burden on the common citizen. 'Electricity prices are increasing every other day. The poor are being crushed under the weight of overbilling and inefficiencies,' he said, referring to the recent Rs 244 billion in electricity overbilling. 'If you are honest, return this amount to the people.'
Taking aim at the ruling party, he said, 'Shehbaz Sharif's government has been in power for three years, but all we see is worsening governance and growing public misery. Even good governance has been washed away by the floods in Punjab.'
He also expressed sorrow over the recent tragedies, including the boat sinking in Gwadar and deaths caused by monsoon rains across the country. 'I offer my deepest condolences to the families affected by these disasters,' he said.