Tag: JDW Sugar Mills Limited

  • Troubled Tareen returns to Pakistan ‘after assurance on ongoing issues’

    Estranged Pakistan Tehreek-e-Insaf (PTI) Jahangir Khan Tareen, whose sugar mills were allegedly involved in corrupt practices, has returned to Pakistan after spending five months in London.

    Tareen, once a close confidant of PM Imran Khan, had a falling out with the prime minister and party leaders after he was named in an inquiry ordered by the PM over hike in sugar prices. The report made public by the government had named other politicians as well.

    A news report claimed that Tareen took this decision to end his self-imposed exile after Imran assured him a free trial about the ongoing issues among other things.

    Speaking about his return at the airport, the PTI leader said that he was staying in London for medical reasons. He also rejected the inquiry report that named him for manipulating sugar industry to make profits, saying that he was ready to face all these accusations.

    Earlier this year, following the shortage of wheat flour in the country and the subsequent price hike, sugar had also gone missing from the market. Taking notice of the situation, the premier had formed a committee to find out those responsible for the crises.

    The inquiry report subsequently had named PTI bigwig Tareen, Pakistan Muslim League-Quaid’s (PML-Q) Moonis Elahi and a relative of then minister for national food security Makhdoom Khusro Bakhtiar as the beneficiaries of the price hike.

  • Two govt-controlled depts spied on Jahangir Tareen, monitored his family, his businesses?

    Two govt-controlled depts spied on Jahangir Tareen, monitored his family, his businesses?

    Former Pakistan Tehreek-e-Insaf (PTI) secretary general Jahangir Khan Tareen was reportedly spied on by two government-controlled departments — neither linked to any defence organisation or the armed forces — after being tasked by his own party to monitor his activities and businesses as well as those of his family.

    While Geo, citing sources, has reported that the departments monitored the same over several weeks, the claims have been categorically denied by the government.  

    Tareen’s residences in Islamabad and Lodhran were allegedly bugged, as were his sugar mills and other business interests. His activities, including meetings with politicians, businessmen and friends, were monitored and phone calls taped, the report said, adding that phone calls of all the members of his family were also allegedly recorded.

    Three weeks ago, a team from the Competition Commission of Pakistan (CCP) had raided the head office of Tareen’s sugar mill and seized office records. It is not clear whether the raid was linked to the bugging operation or not.

    Advisor to the Prime Minister (PM) on Accountability and Interior Shahzad Akbar has, however, rejected the allegations, describing them as “fiction”.

    He said that the allegation that Tareen and his family were spied on was “news” for him. “All concerns of those who were subject of the Sugar Commission inquiry [including Tareen] were raised by them in multiple cases before various high courts as well as the Supreme Court of Pakistan.”

  • Tareen meets Nawaz in London while not on talking terms with Imran?

    Tareen meets Nawaz in London while not on talking terms with Imran?

    Pakistan Tehreek-e-Insaf (PTI) senior leader Jahangir Khan Tareen on Thursday said he has neither met Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif nor did he wish to and that the media cell of the former premier’s party was spreading fake news.

    In an audio statement, Tareen — whose relationship with the PTI seems to have fallen apart — said “our struggle has been against them”, referring to the PML-N.

    “I have neither met Nawaz Sharif nor do I wish to [meet him],” he said.

    “I am not an opportunistic politician to go to them [Nawaz Sharif and the PML-N] just because I have developed differences with Imran Khan,” he said of the premier.

    “I am a principled politician, I tried my best with the PTI,” he added, noting that if there were any problems, it was not his fault. “I am just sitting separately; whatever is acceptable to God will happen.”

    Meanwhile, reports quoted senior leaders of the PML-N as confirming that there had been no meeting between Nawaz and Tareen, that they had neither approached Tareen for such a meeting nor do they plan to do so.

    ‘NOT ON TALKING TERMS WITH IMRAN’:

    The claims rebutted by Tareen had come amid reports that Prime Minister (PM) Imran Khan and his former friend and leading PTI stalwart Tareen were no longer on talking terms as the latter ponders his political future from his Newbury farmhouse just outside of London.

    According to The News, PM Imran has not spoken to Tareen, the former secretary general of PTI and its main sponsor and patron, in several weeks and their relationship of warmth and trust at this point of time is non-existent.

    Tareen jetted off to London two weeks ago in a chartered plane and said he was travelling for medical treatment. He didn’t respond to requests for interview and has stayed quiet but sources close to him have shared details of Tareen’s state of mind and his stance.

    Tareen is not happy with how his colleagues have treated him and believes that he was shed off like dead weight by the very people who used to fawn upon him.

    Another source close to Tareen said that people around Imran and some bureaucrats had become insecure of him as he advised Imran to reduce the role of bureaucracy to improve governance. The source said that Tareen has made more contributions for the growth of PTI than all others put together but none of this was counted when it came to his alleged involvement in the sugar crisis.

    The former powerhouse of PTI is of the view, according to the source, that the premier didn’t come to his aide as he has been surrounded by a coterie of bureaucrats who have been feeding him false information.

    The sources in government said that PM Imran is neutral viz a viz Sugar Commission Inquiry and will not interfere to save or persecute anyone. They added that the PM will not give favours to anyone.

    As Tareen left Pakistan, speculations emerged that he had left to save himself before the start of government’s punitive action on the findings of the report of Sugar Inquiry Commission that implicated PTI leader and other leading political figures and businessmen in sugar scam.

    Tareen has denied all speculations but it has been claimed, including in the National Assembly, that Tareen thought it was best to be out of Pakistan for sometime and that the PTI govt provided him a passage to fly out while keeping accused opposition figures on the Exit Control List (ECL).

    Tareen, however, says that he will return to Pakistan once his treatment is completed but has not given any timeframe and many believe that he is in important discussions about the events that will unfold when he is back in Pakistan.

  • ‘I have always run a clean business,’ says ‘shocked’ Tareen on damning sugar crisis report by Imran govt

    ‘I have always run a clean business,’ says ‘shocked’ Tareen on damning sugar crisis report by Imran govt

    With the damning inquiry report into the sugar crisis being made public on Prime Minister (PM) Imran Khan’s call, senior Pakistan Tehreek-e-Insaf (PTI) leader Jahangir Tareen has said he is “shocked at the false allegations levelled against him” as he has “always run a clean business”.

    “Audit team of [Tareen-owned] JDW Sugar Mills found some additional information about ‘SATTA’ from interviews as well as forensic analysis of brokers of Punjab,” read the report, adding that during his interview with the investigation team, a broker named Aslam stated that in March 2020 he executed forward trades of around 11,135 trucks worth Rs10,292,219,000 with JDW and Ittehad Sugar Mills.

    Tareen, in response to the report, also said the entire country knew that he “paid full price to sugarcane growers”.

    “I do not maintain two sets of books. I pay all my taxes diligently. I will answer every allegation and be vindicated IA [sic],” he tweeted.

    Earlier, the premier’s aide on accountability, Shahzad Akbar, declared the report public in a press briefing and said that it confirmed PM Imran’s long-held view that businessmen in politics would always put business first.

  • Imran vows to go after profiteers as he delivers on promise of probing sugar, wheat crises

    Imran vows to go after profiteers as he delivers on promise of probing sugar, wheat crises

    Fulfilling his promise of ensuring transparency and accountability in governance, Prime Minister (PM) Imran Khan has not only made the inquiry reports into the sugar and wheat shortage public but also ordered the formation of a commission to conduct a forensic audit of the sugar mills, including JDW that is owned by Pakistan Tehreek-e-Insaf (PTI) senior leader Jahangir Tareen.

    As per the details, a report by the Federal Investigation Agency (FIA) on Saturday claimed that top PTI members were among those who gained from the recent sugar crisis in the country. An investigation into the crisis had been ordered by Prime Minister Imran Khan in February.

    Among the people named in the FIA report are Tareen and Makhdum Omer Shehryar, a relative of Minister for National Food Security Khusro Bakhtiar, Geo reported.

    According to the report, sugar price was increased from Rs 55 per kg in December 2018 to Rs 71.44 per kg in June 2019, despite the fact that the General Sales Tax (GST) increase was implemented from July 1, 2019. After the export of sugar in January 2019, its price started increasing immediately in the local market.

    The major beneficiaries of the subsidy offered by the government on export of sugar include RYK Group, owned and controlled by Shehryar, which availed 15.83 per cent of the total export subsidy amounting to Rs3.944 billion. Chaudhry Munir and Pakistan Muslim League-Quaid (PML-Q) senior leader Moonis Elahi are also partners in this group.

    JDW Group owned and controlled by Tareen availed 12.28 per cent of the total export subsidy amounting to Rs3.058bn, while Hunza Sugar Mills availed 11.56 per cent of the total subsidy amounting to Rs 2.879bn. Hunza Sugar Mills is owned by Muhammad Waheed chaudry, Idrees Chaudhry and Saeed Chaudhry.

    Sugar mills owned by the Sharif family availed 5.91 per cent of the total export subsidy amounting to Rs1.472bn.

    The document does not mention under whose influence the Punjab government issued subsidies to sugar mills or why the Economic Coordination Council (ECC) approved the decision to export sugar.

    Reacting to the report, Federal Minister for Planning, Development and Special Initiatives Asad Umar said he has faith that whatever the situation, PM Imran “will ensure justice”.

    Tareen, PTI’s former general secretary, said that out of the Rs3 billion subsidy to the sugar mills, Rs2.5 billion were given when the Pakistan Muslim League-Nawaz (PML-N) was in power.

    Meanwhile, it has been reported that the commission due to submit its report on April 25 has started working and nine teams are already on the ground for carrying out forensic analysis of 10 sugar mills, including Alliance Sugar mills Ghotki, Al-Arabia Sugar Mills Sargodha, Al-Moiz 1 Sugar Mills DI Khan, Al-Moiz 2 Sugar Mills Mianwali, Hamza Sugar Mills RY Khan, Hunza 1 and Hunza 2 Sugar Mills Faisalabad and Jhang, and JDW 1,2, and 3 Sugar Mills RY Khan and Ghotki.

  • Jahangir Tareen announces selling 20,000 tonnes of sugar for Rs67 per kg

    Jahangir Tareen announces selling 20,000 tonnes of sugar for Rs67 per kg

    As sugar prices skyrocket following a severe shortage in major parts of the country, senior Pakistan Tehreek-e-Insaf (PTI) leader and owner of JDW Sugar Mills Limited — the largest white sugar producer in the country –, Jahangir Khan Tareen, has announced to sell whopping 20,000 tonnes of the commodity for just Rs67 per kilogramme (kg).

    Speaking to a private media outlet, Tareen said that Sugar Mills Association, in a bid to control inflating prices of sugar, had decided to provide Utility Stores with 100,000 tonnes of the same at Rs70 per kg. “Out of my share, I will sell 20,000 tonnes at Rs67 per kg,” he added.

    It merits a mention that according to reports, JDW Sugar Mills Limited in January announced its financial results for the first quarter that ended on December 31, 2019, which showed that its revenue went up by 61.45% to Rs13.19 billion during the first quarter as compared to Rs8.17 billion recorded in the same period last year.

    The sugar division comprises three sugar mills units, JDW Unit-I, JDW Unit-II and JDW Unit-III in Rahim Yar Khan and Ghotki districts. It is one of the largest groups in the sugar sector and contributes approximately 15-17% of the country’s sugar production. It is also managing Sugarcane Corporate Farms over an area of 24,000 acres in Punjab and Sindh.

    While people allege that the government had a role to play in scoring Tareen these profits, as of last month, a serious case of sugar shortage emerged as the country already stumbled amid a wheat crisis.

    During the PTI government’s 15 months, sugar prices have shot up to as high as Rs64 a kilogram (kg). However, over the past week, the wholesale rate rose from Rs64 to Rs74 per kg and an acute shortage surfaced in the country. Last year, Pakistan produced 600,000 tonnes of sugar. Now, however, the wholesale rate of sugar is expected to reach Rs80 per kg, The News reported.

    Meanwhile, the Prime Minister (PM) Imran Khan-led PTI government has banned export of sugar and turned down a proposal to import the commodity in order to maintain prices in the domestic market.