Tag Archives: Sugar

The wholesale price of sugar is raised to 90 rupees per kg | Instant News


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The wholesale price of sugar rises to Rs90/kg | Instant News


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The LHC ordered SECP to register the cost of the Ramzan Sugar factory | Instant News


LAHORE: The Lahore High Court on Tuesday allowed a petition by Ramzan Sugar Mills from the Sharif family to oppose the enhanced registration by the Pakistan Security Exchange Commission (SECP). Judge Ayesha A. Malik had ordered her decision on the petition last week which she announced Tuesday. The factory administrator through his advisor Salman Aslam Butt filed in court that all his assets had been frozen after the reference was made by NAB. He said he asked SECP to register the cost increase as required in the Companies Act 2013. However, legal counsel said the Commission refused to register shares due to NAB references while waiting for the sugar factory. He said SECP asked the factory to provide NOC by NAB. Counselors argued that NAB had previously sent a letter to SECP about a “caution sign” on the sale and purchase of factory shares only. He said no NOC from the Bureau was needed for the purpose because this problem was not related to the sale / purchase of shares.

He asked the court to order the SECP to register the factory’s allegations so that it could get its assets pledged for a bank loan. Opposing the petition, NAB prosecutor Asim Mumtaz said the pending investigation was not related to the company (factory) but its shareholders. However, he opposed the petition and said that the sugar factory could not utilize the facility during the case design. The judge allowed the petition and directed the SECP to register the petitioner’s / factory’s allegations.

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Of 38 sugar factories in Sindh, 18 owned by Zardari, Omni Group, claimed PTI | Instant News


KARACHI: Pakistani leaders Tehreek-e-Insaf (PTI) on Sunday urged Prime Minister Imran Khan to form a special sugar inquiry committee for Sindh and impose financial emergencies in the province.

Opposition Leader at the Sindh Firdous Assembly Shamim Naqvi, during a speech at a press conference at Insaf House, the party secretariat in Karachi, said that 18 of the 38 sugar factories in Sindh belonged to former president and the People’s Party of Pakistan (PPP) supremo Asif Ali Zardari and the Omni Group .

“After 2005, all sugar mills were sold to the same buyer in Sindh,” he said.

He said that in his current tenure, the PM did not provide subsidies to the sugar factories, while former prime minister Shahid Khaqan Abbasi and Chief Minister Sindh Murad Ali Shah had provided subsidies for the song Rs20 billion and Rs4 billion respectively.

“The Thatta Sugar Factory issued a one billion rupee loan from the Sindh Bank for balancing, modernizing and replacing (BMR). How do banks release loans to borrowers this way? “He questioned and demanded the State Bank of Pakistan to start the Sindh Bank audit.

Naqvi said not only the Omni Group but other groups were also involved in irregularities. He added that the farmers had not yet made sugarcane payments.

PTI leaders claim that the Sindh minister lied. He asked the PM to form a special sugar inquiry committee for Sindh. “Every institution in Sindh has been destroyed. Schools and colleges have been established here but education is not available, “he said.

Naqvi said that the Sindh health minister was missing and not seen. “Sindh people want to get rid of these thieves and robbers,” he said.

The leader of the PTI parliamentary in the Sindh Assembly, Haleem Adil Sheikh, said the seizure and looting of the Zardari-Omni relations had greatly affected ordinary people in Sindh because taxpayers’ money was embezzled without mercy.

MNA Jai Prakash said Thar’s condition worsened after the enactment of the 18th amendment. “The health and education system is in the hands of the provincial government, while the Sindh government violates the rights of the people,” he said.

The head of the Bait-ul-Mal Sindh Hunaid Lakhani asked the media to do their responsibility to show the truth to people and expose corruption. “Because of corruption and incompetence, PPP has brought the province to the brink of disaster,” Lakhani said.

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Action plan for preparing the government to improve the sugar mafia | Instant News


ISLAMABAD: Imran Khan’s government will launch NAB, FIA, FBR, SECP, the Anti-Corruption department and the Pakistan Competition Commission to begin the process – under criminal, tax, regulatory and anti-corruption laws – against the sugar mafia identified in Sugar recently this. Commission report, it’s studied.

This action will not be limited to sugar mills and people whose roles have been included in the report, but relevant agencies will be asked to conduct a forensic audit of all other sugar mills to improve what the sources call the “sugar mafia” once and for all.

Government actions will involve arrest, FIR registration and criminal cases, tax proceedings and regulatory actions. Government sources told The News that the issue of subsidies might be referred to the NAB or FIA to investigate all of this, including even Punjab Chief Minister Usman Buzdar, who has allowed subsidies for the past five years.

These sources said that at the direction of Prime Minister Imran Khan, his Special Assistant to the Responsibility and Interior of Shahzad Akbar was currently launching a proposal to start action on the sugar mafia based on what was recommended by the Sugar Commission.

It is said that the action plan against the sugar mafia is expected to be completed and announced by the end of this week. Those involved in preparing the action plan rely on the recommendations of the Sugar Commission.

“We are bound to implement this recommendation,” said one source, adding that all relevant institutions will refer cases according to their domains to ensure that any criminality, illegality, taxes and regulatory violations are handled properly and those found responsible are made to be responsible .

It was said that almost all the nine sugar mills that the forensic audit had carried out were found to be involved in the error. It was said that the relevant departments would now be directed to carry out other sugar factory forensic audits to identify their role.

Asked whether the government would investigate Punjab Chief Minister Usman Buzdar on the issue of subsidies or would only focus on past rulers, these sources said the Sugar Commission’s findings on subsidies would be referred to the NAB or FIA for investigation and action on all those involved.

These sources say there will be no exceptions. The Sugar Commission report reflects the poor role of the Punjab minister for allowing Rs3 billion in subsidies for sugar mills. “We cannot ask for selective action when the Sugar Commission report also finds subsidies given during the PTI period as‘ unjustified, “said a source.

The report found a serious error in the sugar factory owned by Jahangir Tareen, Moonis Elahi, Omar Shehryar, Omni Group and Sharif Group. The forensic report uncovered gross errors by the sugar industry in the form of underreported sugar sales, commodity sales to benamidar buyers (unnamed), double orders, excess invoices, baggage and molasses sales that are less billed which results in inflation costs and many other corporate frauds have been detected in a sugar factory transaction.

The commission, which was formed by the Ministry of Home Affairs to conduct a sugar factory forensic audit, has audited the records of six sugar factories including Prime Minister Imran Khan’s close aide, Jahangir Khan Tareen, Jair’s JDW sugar factory, PML-Q factory owned by the leader of the Alliance’s sugar mill. Moonis Elahi and Salman Shahbaz own the Al Arabiya sugar factory.

The report has highlighted that all have been involved in committing corporate fraud to reach billions of rupees. The entire sugar industry announced total sales of around Rs 124 billion; of Rs43 billion is sold to registered people. If sales are made to people registered with an Income Tax worth Rs14 billion, then the remaining sales of Rs58 billion have been made to unregistered people who are suspected of Benamidars.

Likewise, the report highlights that less production has contributed very little to the increase in sugar prices. Other factors such as market manipulation, stockpiling and “Satta” practices are also responsible for price increases.

The difference between sugar cane produced and crushed is significant. The significant quantity of this gap can be attributed to the purchase of sugar cane outside the book and the production of sugar produced outside the book. This factor is strongly supported by the evidence gathered during the forensic audits of most of the sugar factories that were audited.

Regarding market manipulation, the report said there was ample evidence of market manipulation to profit from certain sugar mills through contracts going forward, not raising sugar for sale and facilitating selected brokers who enjoyed “Satta”. Although there are clear indicators that cartelization exists, the main regulator namely CCP has remained a silent audience since its report on cartelization in 2009.

The problem prevailing in the sugar industry has been debated since 2009 and is not a foreign problem. According to the report, there is sufficient evidence of sugar hoarding at the sugar factory level with respect to brokers / investors.

Sugar factories facilitate storing the stock that is being sold in their warehouses, which leads to inappropriate profiteering. Although there are relevant laws (Register of Acts of the Gods in Punjab and Sindh), there is no data on sugar stock, by stockists or sugar factories, managed by the province.

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Of the 38 sugar factories in Sindh, 18 owned by Asif Ali Zardari, Omni Group, claimed PTI | Instant News


KARACHI: Pakistani leaders Tehreek-e-Insaf (PTI) on Sunday urged Prime Minister Imran Khan to form a special sugar inquiry committee for Sindh and impose financial emergencies in the province.

Opposition Leader at the Sindh Firdous Assembly Shamim Naqvi, during a speech at a press conference at Insaf House, the party secretariat in Karachi, said that 18 of the 38 sugar factories in Sindh belonged to former president and the People’s Party of Pakistan (PPP) supremo Asif Ali Zardari and the Omni Group .

“After 2005, all sugar mills were sold to the same buyer in Sindh,” he said. He said that in his current tenure, the PM did not provide subsidies to the sugar factories, while former prime minister Shahid Khaqan Abbasi and Chief Minister Sindh Murad Ali Shah had provided subsidies for the song Rs20 billion and Rs4 billion respectively.

“The Thatta Sugar Factory issued a one billion rupee loan from the Sindh Bank for balancing, modernizing and replacing (BMR). How do banks release loans to borrowers this way? “He questioned and demanded the State Bank of Pakistan to start the Sindh Bank audit.

Naqvi said not only the Omni Group but other groups were also involved in irregularities. He added that the farmers had not yet made sugarcane payments. PTI leaders claim that the Sindh minister lied. He asked the PM to form a special sugar inquiry committee for Sindh.

“Every institution in Sindh has been destroyed. Schools and colleges have been established here but education is not available, “he said. Naqvi said that the Sindh health minister was missing and not seen. “Sindh people want to get rid of these thieves and robbers,” he said.

The leader of the PTI parliamentary in the Sindh Assembly, Haleem Adil Sheikh, said the seizure and looting of the Zardari-Omni relations had greatly affected ordinary people in Sindh because taxpayers’ money was embezzled without mercy.

MNA Jai Prakash said Thar’s condition worsened after the enactment of the 18th amendment. “The health and education system is in the hands of the provincial government, while the Sindh government violates the rights of the people,” he said.

The head of the Bait-ul-Mal Sindh Hunaid Lakhani asked the media to do their responsibility to show the truth to people and expose corruption. “Because of corruption and incompetence, PPP has brought the province to the brink of disaster,” Lakhani said.

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Ghani demanded NAB to take action on the Rs300 billion sugar fraud | Instant News


KARACHI: Minister of Education and Labor Sindh Saeed Ghani said the National Accountability Bureau (NAB) had not seen corruption reaching Rs300 billion detected in the sugar scandal because it had not yet taken action against Prime Minister Imran Khan and his cronies after they were mentioned in a scam.

Speaking at a press conference on Sunday, Ghani said that the terms of reference (ToR) of the sugar inquiry commission included increases in the price of sugar in 2018-19 and 2019-20 which made people lose more than Rs300 billion. .

He said the decision taken at a federal cabinet meeting with the prime minister in the chair had led to a rise in sugar prices in the country.

The PM had formed a sugar inquiry commission on February 20, which submitted its report on March 9, Ghani said. He added that action should have begun immediately on the findings of the inquiry commission, but it had never taken place because the investigation report mentioned the names of the PM himself and his cronies including Asad Umar, Abdul Razzak Dawood and Hafeez Sheikh.

Ghani claimed that due to this fact, the order to conduct a forensic examination of the investigation report was issued later. He said all controversial decisions, such as rising prices for medicines and gas, and importing medicines from India, were taken at a federal cabinet meeting chaired by the PM. He said the PM gave approval for the proposal and then he himself ordered an investigation into these matters.

Citing an elected and incompetent federal government, Ghani said they had obtained more loans in the past year than those taken by the Pakistani federal government led by the Pakistan People’s Party for a full five years.

He said that in the case, NAB had the intention to prove impartial behavior, it must immediately launch action against the elements involved in plundering Rs300 billion of people in the form of rising sugar prices.

Pakistanis stranded abroad suffer greatly because of federal government policy, despite paying three times the price of normal airplane tickets to Pakistan International Airlines, they are brought back to their homeland like cattle, Ghani said.

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Report bills for Shahbaz Sharif, Shahid Khaqan, said Shahzad Akbar | Instant News


LAHORE: Prime Minister’s Special Assistant for Accountability Mirza Shahzad Akbar on Saturday said the sugar inquiry report was an accusation sheet against Pakistan’s Muslim League President-Nawaz Shahbaz Sharif and former prime minister Shahid Khaqan Abbasi.

Addressing a press conference here on Saturday, SAPM Akbar said that Prime Minister Imran Khan gave permission for commodity exports not for subsidies.

“There is sufficient sugar in the country when exports are permitted,” Akbar said and added high prices on the international market at that time.

He said that the sugar investigation report was made public as soon as it was received from the commission.

“I will prove whatever Shahid Khaqan Abbasi said is a white lie and they are [opposition leaders] misled the nation about the report, which was an important development. ”

Abbasi, earlier in the day, accused the government of supporting the sugar kings and said, “[PM] Imran. [former finance minister] Asad Umar, and [Punjab Chief Minister] Usman Buzdar is the real cause behind sugar fraud. ”

“The PTI government seems to be swayed by this sugar problem,” he said.

He said that the case must be submitted to him and the prime minister.

Reacting to Abbasi’s criticism, Akbar stated that for the first time ministers appeared before the commission of inquiry and testified.

Directing his weapon at the former prime minister, the prime minister’s aide said that the investigation report had “exposed Abbasi” who distributed Rs20 billion subsidies to sugar factory owners with a 24-hour notice because of Salman Shahbaz.

“Abbasi failed to provide any documents or provide satisfactory answers to panel questions.”

The PM’s aide on accountability said that 50 percent of sugarcane obtained during 2017-19 was not stated or the sugar it produced was not displayed in the newspaper.

“Business is done at ‘kachi parchi’ in Al-Arabia Mills [owned by Shahbaz Sharif’s sons],” she says.

Akbar also called for financial audits of other cartels that “suck the blood of the people” in the country.

“The forensic report has discussed all the factories,” he said.

“Farmers and consumers are in poor condition while factory owners are developing.”

Akbar said that the government would introduce a mechanism by which the price of sugar would be lowered.

Meanwhile, a spokesman for the Pakistan-Nawaz Muslim League (PML-N), Marriyum Aurangzeb, on Saturday demanded the removal of Prime Minister Imran Khan.

In a statement, he said the missing prime minister was in charge of the health department, which had been awarded under a contract by the federal government.

Marriyum said the incompetent and corrupt government had changed four health secretaries in three months, while the Pakistan Medical and Dental Council (PMDC) had fallen victim to the ego of the PM and had not been fully functioning.

“Incompetent governments have destroyed the health department as have all other sectors,” he said.

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Report bills for Shahbaz, Shahid, Shahzad said | Instant News


Agency Agency

LAHORE: Prime Minister’s Special Assistant for Accountability Mirza Shahzad Akbar on Saturday said the sugar inquiry report was an accusation sheet against Pakistan’s Muslim League President-Nawaz Shahbaz Sharif and former prime minister Shahid Khaqan Abbasi.

Addressing a press conference here Saturday, SAPM Akbar said that Prime Minister Imran Khan gave permission for commodity exports not for subsidies.

“There is sufficient sugar in the country when exports are permitted,” Akbar said and added high prices on the international market at that time.

He said that the sugar investigation report was made public as soon as it was received from the commission.

“I will prove whatever Shahid Khaqan Abbasi said is a white lie and they are [opposition leaders] misled the nation about the report, which was an important development. “

Abbasi, earlier in the day, accused the government of supporting the sugar kings and said, “[PM] Imran. [former finance minister] Asad Umar, and [Punjab Chief Minister] Usman Buzdar is the real cause behind sugar fraud. “

“The PTI government seems to be swayed by this sugar problem,” he said. He said that the case must be submitted to him and the prime minister.

Reacting to Abbasi’s criticism, Akbar stated that for the first time ministers appeared before the commission of inquiry and testified.

Directing his weapon at the former prime minister, the prime minister’s aide said that the investigation report had “exposed Abbasi” who distributed Rs20 billion subsidies to sugar factory owners with a 24-hour notice because of Salman Shahbaz.

“Abbasi failed to provide any documents or provide satisfactory answers to panel questions.”

The PM’s aide on accountability said that 50 percent of sugarcane obtained during 2017-19 was not stated or the sugar produced from it was not shown in the newspaper.

“Business is done at ‘kachi parchi’ in Al-Arabia Mills [owned by Shahbaz Sharif’s sons],” she says.

Akbar also called for financial audits of other cartels to “suck people’s blood” in the country.

“The forensic report has discussed all the factories,” he said. “Farmers and consumers are in bad condition while factory owners are developing.”

Akbar said that the government would introduce a mechanism by which the price of sugar would be lowered.

Meanwhile, a spokesman for the Pakistan-Nawaz Muslim League (PML-N), Marriyum Aurangzeb, on Saturday demanded the removal of Prime Minister Imran Khan.

In a statement, he said the missing prime minister was in charge of the health department, which had been awarded under a contract by the federal government.

Marriyum said the incompetent and corrupt government had changed four health secretaries in three months, while the Pakistan Medical and Dental Council (PMDC) had fallen victim to the ego of the PM and had not been fully functioning.

“Incompetent governments have destroyed the health department as have all other sectors,” he said.

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Food secretary removed from wheat, the sugar crisis makes the head of PPRA | Instant News



ISLAMABAD: Federal Food Secretary Hashim Popalzai, who was removed due to the wheat and sugar crisis, has been reappointed as managing director of the public procurement regulatory authority (PPRA).

Sources said that the cabinet had agreed to summarize the appointment of Hashim Popalzai through circulation.

They said that Popalzai, who will retire next year, had been appointed MD PPRA for three years before retiring.

In April, Hashim Popalzai was removed as food secretary by Prime Minister Imran Khan after the report of the Federal Investigation Agency (FIA) investigation on wheat and the sugar crisis.

Later, the prime minister appointed Umar Hameed as food secretary.

The FIA ​​has declared Hashim Popalzai responsible for the wheat and sugar crisis and recommended his dismissal from office.

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