Just went through the complete report of the Sugar Inquiry Committee and there is clear evidence that artificial demand was created to shore up ex-mill prices of sugar in the country - by creating false perceptions of less produce and exporting irrationally.
In doing so, the mill owners were able to increase the price of sugar from Rs.55.99 to Rs.74.64. Important to note that only 6 families own more than half of all sugar production in the country. Jahangir Tareen (JDW Group) and Khusro Bakhtiar's family stood to directly benefit.
As heavy subsidies are provided to the sugar mills, there is a clear black market for sugarcane purchase and price is manipulated by mill owners belonging to all parties (PMLN, PPP, PMLQ, PTI) there is a need for accountability & action.
While it is brave on part of the Prime Minister to release an uncensored report incriminating his cabinet members - too many reports in Pakistan have been left in the dustbin of history for this to be enough. Will NAB take this up impartially?
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