Surge in sugar prices: PAC seeks records of all sugar mill owners, exporters again
Junaid Akbar chaired the meeting of the PAC.
The members committee showed serious concerns over the sudden raise in sugar prices as the commodity is being sold at Rs 210 per kg in Karachi and Rs 215 in Haripur, while the average price is at Rs 173 per kg nationwide.
New official sugar prices notified for Karachi
The officials of the Ministry of Industries hesitated to disclose the sugar mill owners, forced the chairman committee to issue directives for submission of names and directorship of sugar mills.
The PAC chairman warned that a privilege motion would be moved in case the list was not submitted shortly. The secretary for Food Security also faced strong criticism for allegedly presenting inaccurate data of sugar production, export and prices.
According to the data provided by the Ministry of Industries, 5.09 million tons of sugar approved for export in last 10 years but only 3.927 million tons were actually exported, earning over $400 million in foreign exchange.
Officials stated that Pakistan produced 7.66 million metric tons of sugar last year, with 1.3 million metric tons in surplus.
Of that, 500,000 tons were reserved for the next year, while the government approved the export of 790,000 tons in three phases.
At the time of export, the local market price of sugar was Rs143 per kg, which has now jumped to Rs 173. The lawmakers criticised the ongoing cycle of sugar export and import, calling it a decade-long deception.
Members committee Riaz Fatyana and Muhammad Arshad alleged that the nation was defrauded of Rs 287 billion due to the manipulated price hike and artificial shortages.
Junaid asked the officials why sugar mills were awarded export subsidies and the reason behind the sudden issuance of SROs granting tax exemptions.
Moin Pirzada accused the government of looting the nation and blamed the Sugar Advisory Board for corruption, calling the sugar mafia an integral part of the government. The committee was apprised that the prime minister formed a committee led by Deputy Prime Minister Ishaq Dar to probe the matter.
Copyright Business Recorder, 2025
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