Federal Finance Minister Muhammad Aurangzeb chaired the Competition Commission of Pakistan (CCP) meeting in Islamabad on Monday, reported 24NewsHD TV channel.
The participants of the meeting were briefed about the issues confronting the sugar sector.
The CCP officials told the meeting that the export of sugar was allowed on the basis of inaccurate estimates made by the Sugar Advisory Board about the production of the sugarcane crop and sugar and the stocks of sugar available, which eventually led to the shortage of the commodity in the country.
The export of sugar led to crises in the past also, the officials said, and added that decisions should not be made on the basis of the data provided by the sugar mills.
Instead, data should be obtained from independent sources.
The meeting was informed that the cases involving the sugar cartel were sub judice.
It was told that the CCP was drafting suggestions to assist the sugar sector reform committee.
The meeting was informed that clear-cut proof of cartelization was found in the inquiry held in 2009-10.
However, the report of that inquiry had not been released to this date, it was said.
The officials went on to say that initially the Sindh High Court had granted ‘stay’ in the case up till 2021 and later it landed in the Supreme Court.
Speaking on the occasion, the minister said that the CCP would be further strengthened. “The sugar sector will be deregulated,” he said, adding, “After its deregulation, the role of the CCP will be enhanced.”
He further said that the provision of data from other departments would be ensured to make investigations transparent.
Also on Monday, the Trading Corporation of Pakistan in Karachi issued the tender for the purchase of 100,000 tonnes of sugar.
Reporter: Waqas Azeem