Govt allowed sugar exports on misreported data, CCP briefs FinMin

ISLAMABAD: Chairman Competition Commission of Pakistan on Monday told the finance minister that Pakistan’s sugar stocks have dropped owing to export of the commodity.

“The government allowed exports based on misreported estimates, which had resulted in drop in sugar stocks,” Dr Kabir Ahmed Sidhu informed Minister of Finance Muhammad Aurangzeb in the Competition Commission of Pakistan’s briefing over the sugar sector.

CCP chairman while highlighting the causes of present as well as past sugar crises said that the decision making should not be based on the data provided by the sugar mills association, “The decision making should be based on independent and transparent data,” CCP advised in its briefing.

The CCP also briefed on the 2008, 2015 and 2019 sugar crises. “In all sugar crises in the past, sugar supply was restricted”.

According to the CCP briefing, orders were passed against the sugar cartel in 2010 and 2021, while the year 2010 decision is yet to be made public.

Finance Minister Muhammad Aurangzeb said that the government will assist for early
hearing of the cases adding that the competition commission will be further empowered.

Finance minister said that the sugar sector will be completely de-regulated and after de-regulation the competition commission’s role will become more pivotal.

Minister also said that the CCP’s access to the data of other institutions for investigation will be made easier.