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| February 28, 2006 | Tuesday | Muharram 29, 1427 |
NAB takes up issue of sugar, oil price hike
ISLAMABAD, Feb 27: The National Accountability Bureau (NAB) would probe into unusual increases in prices of sugar and petroleum products, it was officially announced here on Monday.
According to the NAB, its Deputy ChaiM Dr Salman Shah and Minister for Petroleum and Natural Resources Amanullah Khan Jadoon to discuss the issue of price hike. He was informed that the federal government would direct the provinces to devise a mechanism to ensure smooth supply of sugar from factories to markets and control wholesale and retail prices.
Meanwhile, government sources told Dawn that the NAB would take action against ‘powerful’ parliamentarians responsible for creating sugar shortage.
During his meeting with Dr Salman Shah, the NAB official expressed concern over sudden increase in the price of sugar.
They were of the opinion that a detailed analysis should be carried out to determine the reasons behind the crisis and the role of stakeholders to avert a similar situation in future.
“Since the price of sugar has an effect on other commodities, NAB feels that there is an urgent need to probe into the sudden hike in its price,” the deputy chairman of the bureau said.
During his meeting with the minister for petroleum and natural resources, Gen Siddique conveyed NAB’s concern over increase in prices of petroleum products and the mechanism for fixing their price.
They observed that the Oil Companies’ Advisory Committee (OCAC) had failed to adjust the domestic oil prices after a decline in international oil prices.
They discussed measures being studied by the government to provide relief to the common man. “As it is an issue that affects every segment of society, the NAB has decided to probe into the increase in prices of petroleum products as well,” its deputy chairman said.
The price of sugar in the open market is still stated to be quite high as the commodity is selling at Rs42 to Rs45 per kg at the retail level against its previous retail rate of Rs21 per kg.
Recently, the Utility Stores Corporation (USC) had claimed that there was no sugar crisis in the country and the corporation was selling the commodity at Rs27 per kg. However, people complained that they did not find sugar whenever they visited utility stores.
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