Govt is to send Rs29bn sugar subsidy matter to NAB: Akbar

ISLAMABAD: The government has decided to send the matter of subsidy of Rs29 billion to sugar industry during the last five years to National Accountability Bureau (NAB).
This was stated by Special Assistant to Prime Minister on Accountability Barrister Shahzad Akbar during a media briefing along with Information Minister Senator Shibli Faraz here on Sunday.
He said the Prime Minister approved the recommendations and action points of sugar inquiry commission report at a high level meeting held in Banigala today. Shahzad Akbar said the meeting also decided to send a reference to NAB of the subsidies given in the country since 1985.
He said a political family received subsidy in billions of rupees by exporting sugar to Indian during the 1990s.
Shahzad Akbar said the report of sugar inquiry commission suggests recommendations including punishment and recoveries, overhauling of regulatory framework and to rationalize the sugar prices based on actual cost of production.
He said matter relating to unnamed accounts and transactions, tax evasion and similar issues is being sent to FBR. The FBR has been directed to complete its proceeding in 90 days’ time for further action.
He said matter of cartelization of sugar industry is being sent to Competitive Commission of Pakistan.
The special assistant said matter of investigation of corporate fraud is being sent to FIA and SECP and directed to complete the investigation in 90 days’ time for filing in courts.
Shahzad Akbar said that Prime Minister Khan is determined to take action against all mafias in the country.
Speaking on the occasion, Information Minister Senator Shibli Faraz said that the PTI government is committed to holding accountability of all those people who have put people, institutions and future of the country at stake.
He said, “Our first and foremost priority is to protect the interests of the people.”
Shibli Faraz said that Prime Minister Khan established inquiry commission on sugar to ascertain those responsible for increase in the prices of the commodity. He said that Prime Minister Khan is serious about this issue and forensic audit was held on time. – TLTP