FIA launches investigation after PM takes notice of sugar price hike

ISLAMABAD: The Federal Investigation Agency (FIA) has initiated an inquiry into the recent surge in sugar prices across the country during Ramadan, following Prime Minister Shehbaz Sharif’s notice of the issue, ARY News reported.

The FIA’s Anti-Corruption Circle has sought assistance from the Pakistan Telecommunication Authority (PTA) to investigate the matter. In a letter to the PTA, the FIA requested data of 11 individuals, including sugar mill administrators and businessmen.

The individuals whose data has been requested include prominent figures such as Aneeb Faraz, Muhammad Arshad, and Muhammad Anwar. The FIA is also investigating individuals involved in the illegal buying and selling of sugar.

The ongoing dispute between sugar mill owners and the government over sugar pricing remains unresolved as sugar millers refused to drop the rates.

Read more: Sugar price hike: Mill owners, major dealers ‘summoned’ to Islamabad

As per details, the government and sugar millers failed to reach consensus on the prices as the millers refused to sell sugar at Rs140 per kg, the sources said and added that sugar prices are expected to rise further ahead of Eidul Fitr due to shortage.

Currently, sugar is being sold in retail markets at Rs170 to Rs175 per kg. Despite the government’s efforts to stabilize prices, no significant reduction has been observed.

It is to be noted that Pakistan government allowed sugar millers to export sugar on the assurance of stability of the rate.

Sources said on March 14 that Prime Minister (PM) Shehbaz Sharif took notice of inflating prices and ordered a crackdown on sugar hoarding.

The direction came during a high-level meeting chaired by PM Shehbaz to review sugar prices and the commodity’s supply across Pakistan.