ISLAMABAD: In a significant move aimed at enhancing transparency, a parliamentary committee has recommended full deregulation of the sugar sector to curb market manipulation and speculative practices.

To further overcome the irregularities in the sector, the committee also proposed reconstituting the Sugar Advisory Board, removing private sector representation from the body. The recommendations came from a sub-committee which was formed, comprising Dr Mirza Ikhtiar Baig, Ms Tahira Aurangzeb, Farhan Chishti and Gul Asghar Khan.

The report of the sub-committee was discussed at the National Assembly Stan­ding Committee on Commerce, chaired by Jawed Hanif Khan, on Monday. The meeting assessed progress on key trade-related matters, including export diversification, regulatory reforms, industrial competitiveness, and the implementation of the national trade policy.

The committee adopted the report presented by the ministry of commerce and emphasised the need to identify individuals responsible for past decisions permitting sugar exports against national interest.

Mr Jawed underscored that repeated errors warranted a detailed inquiry into those who facilitated such actions and stressed that accountability must be ensured.

The chairman further directed that the Competition Commission of Pakistan (CCP) be called to explain its failure to curb cartelisation in the sugar sector.

Reviewing progress on SPS compliance, rice exports, and commercial attachés, the committee was informed that EU rice interceptions had declined significantly, and seafood exports rose to $466 million in FY25. The commerce ministry highlighted its Agro-Products Export Enhancement Roadmap, the formation of Sectoral Councils, and measures to boost exports of pharmaceuticals, leather, and marble.

The committee directed that a detailed briefing be presented in the next meeting on efforts to address non-tariff barriers, particularly by the United States.

Regarding the Pakistan Reinsurance Company Ltd (PRCL), the committee sought a full justification for the retrospective salary increase of the former CEO from Rs500,000 to Rs2.4 million per month, including multiple benefits.

Published in Dawn, October 21st, 2025