FIA summons top officials of eight sugar groups

Published March 29, 2021
The Federal Investigation Agency (FIA) on Sunday summoned chief financial officers (CFOs) and heads of sales of eight major sugar groups. — File
The Federal Investigation Agency (FIA) on Sunday summoned chief financial officers (CFOs) and heads of sales of eight major sugar groups. — File

LAHORE: The Federal Investigation Agency (FIA) on Sunday summoned chief financial officers (CFOs) and heads of sales of eight major sugar groups in connection with the ‘speculative price-hike’ of the sweetener.

“The FIA has summoned the chief financial officers (CFOs) and heads of sales of PTI’s Jahangir Tareen’s JDW Sugar Mills for April 2, Maryam Nawaz and Sharif family’s Chaudhry Sugar Mills on March 31, Punjab Assembly Opposition Leader Hamza Shahbaz’s Ramzan Sugar Mills on April 2, Madina Sugar Mills of Kissan group on April 7, Hamza Sugar Mills on April 8 and three others in the sugar scam. The owners of these sugar groups will be summoned at the later stage,” an official source told Dawn.

The FIA has recently detected Rs110 billion earning by the sugar mafia during the last one year through ‘speculative pricing’ and it initiated action against those involved in it.

Meanwhile, the FIA has frozen over 400 bank accounts of 40 satta-agents (speculators). “We are receiving evidence in bulk and registered FIRs against them and 40 pricing manipulators. And once we get the report of forensic evidence, arrests will be made,” he said.

On the information of the FIA Lahore that 37 satta-agents have been working in Karachi, it (FIA Karachi) arrested some seven satta-agents.

“The black money has reportedly been used in the business of speculative pricing and the 10 major sugar groups from Lahore, Multan, Faisalabad, Rawalpindi, Hasalpur and Bahawalpur are involved in this crime,” he said.

As many as 40 speculative pricing manipulators were booked booked by FIA under sections 420, 468, 471 and 109 of the Pakistan Penal Code (PPC), read with sections 3/4 of Anti-Money Laundering Act 2010 and their connections with these sugar groups. The FIA Lahore in November last had also registered cases against Jahangir Tareen, his son Ali Tareen, Shehbaz Sharif, his sons Hamza and Suleman in the sugar scam under money laundering, fraud and other charges but made no attempt to arrest them. Tareen and Hamza did join the investigation but Shehbaz had sought time to respond to its queries in this regard.

The FIA had also investigated Federal Minister Khusro Bakhtiar and his family members in the sugar scam however it has yet to give them a clean chit.

Published in Dawn, March 29th, 2021

Opinion

Educating merged districts
Updated 12 Apr 2021

Educating merged districts

The seven merged districts of KP, with a combined population of over five million, do not have a single university.
Greater visibility
12 Apr 2021

Greater visibility

It is not surprising that the custodians of patriarchy are fearful.
Rethinking executions
11 Apr 2021

Rethinking executions

One convict’s fight to escape the gallows exposes the deep flaws in our criminal justice system.

Editorial

Pakistan-India peace
Updated 12 Apr 2021

Pakistan-India peace

Experts note that everything — including Kashmir — can be resolved if there is a will in both capitals.
12 Apr 2021

Child abuse

IN its annual report, the NGO Sahil found that there has been a 4pc increase in documented cases of major crimes...
12 Apr 2021

New tax chief’s task

THE FBR got a new chairman on Friday. Asim Ahmed, a senior IRS officer who was serving as the Board’s IT member...
11 Apr 2021

Dissension within PTI

WITH the dust from the PDM’s implosion still not fully settled, the PTI is now faced with growing dissension from...
11 Apr 2021

Power to arrest

A SUPREME Court verdict announced on Thursday spelled out what might be considered a self-evident truth in any...
11 Apr 2021

Unequal vaccine distribution

IT is in times of crisis that we often see the best — or worst — of humanity. In this regard, the pandemic has...