PSMA, 84 sugar mills served show-cause notices over forming cartel

ISLAMABAD: The Competitive Commission of Pakistan (CCP) on Tuesday issued show-cause notices to the Pakistan Sugar Mills Association (PSMA) and 84 sugar mills for forming a cartel, ARY NEWS reported.

According to details, the show-cause notices were served over violation of section 04 of the competitive commission act 2010.

According to the CCP, the PMSA was working as a frontrunner for sugar mafias and the evidence of it was found during raids at the association and the JDW group’s offices.

“The seized record showed an exchange of emails between the senior officials of the PSMA and JDW group,” it said adding that the mails carried sensitive trade information and the position of the sugar stock.

The CCP said that they also reviewed an information shared on a Whatsapp group which showed that a group official was in contact regarding details of prices and stock.

It further emerged that 15 sugar mills decided to delay the crushing of sugar cane and the decision was made with the support of the PSMA. The association and a member of mills tried to maintain prices of the sugar cane, to yield more profits for them.

It is pertinent to mention here that Jahangir Khan Tareen has returned to the country after staying abroad for seven months over what he said due to his medical treatment.

Soon after his return, the PTI leader took to Twitter and said: “Let me state for the record that JDW is NOT part of the petition against GOPb notification to start sugar Mills on 10th Nov.”

He said all of his mills, including those in Sindh, will start cane crushing on November 10 and vowed to play his part in helping the government overcome the sugar shortage and price hike.