Tag: sugar crisis

  • Sugar price expected to drop below Rs150 per kg

    Sugar price expected to drop below Rs150 per kg

    The Punjab caretaker government successfully resolved the issue of high sugar prices in the country through negotiations with sugar mill owners. 

    A delegation from the sugar mill owners met with Punjab Caretaker Chief Minister (CM) Mohsin Naqvi. Both sides agreed to start sugarcane crushing on October 28. 

    According to ARY, sugar mill owners agreed to sell sugar to the Punjab government at Rs140 per kilogramme, and the provincial government planned to distribute the sugar stocks through special stalls in model markets.

    CM Naqvi acknowledged the financial difficulties faced by citizens and promised to lower sugar prices to provide relief.

    Despite the commerce ministry denying any sugar shortages, prices had surged to over Rs200 per kilogramme in various cities across the country. 

    This led citizens in Quetta and Sukkur to buy sugar at Rs220 per kg, while Karachi markets sold it for Rs180 to Rs200 per kg. 

    Similarly, sugar prices rose to Rs195 to Rs200/kg in Lahore, Jhang, and Faisalabad.

    Previously, it was reported that sugar prices reached a record high of Rs220 per kg in Balochistan’s retail markets. 

    Authorities initiated an investigation into the price increase and tightened scrutiny on sugar mill owners and dealers in Lahore. The Punjab government planned to take action to reduce the soaring sugar prices.

  • Pakistan to import 100,000 tonnes of sugar from Brazil due to high prices, shortage

    Pakistan to import 100,000 tonnes of sugar from Brazil due to high prices, shortage

    With the price of sugar skyrocketing in the market, aided by the exploitative practices of the sugar mill cartel, and the commodity facing scarcity, a decision has been reached to import 100,000 metric tonnes of sugar from Brazil.

    The Trading Corporation of Pakistan has formally communicated its intention to procure sugar from the South American nation. This comes as a reversal of trends, considering that sugar had been exported back in June; however, preparations are now underway for its import in September.

    Nevertheless, there are concerns that the price of sugar might surge further in the market following its import. It is anticipated that sugar could reach a staggering Rs200 per kilogramme.

    Insider sources have disclosed that the country is grappling with a significant shortage of sugar after its previous export. In November 2022, sugar was priced at Rs91, but following its export, the price catapulted to Rs180. The impending import of 100,000 metric tonnes is feared to exacerbate the price increase.

    Speaking on the issue, Food Secretary Zaman Wattoo revealed that the recent surge in sugar prices has collectively burdened the masses with an additional cost of Rs47 billion.

    Meanwhile, the price of sugar persistently climbs, now touching the Rs170 per kilogramme mark in the retail sector. Over a span of just four days, the price has gradually escalated by Rs10 per kilogramme.

    At the wholesale level, sugar is valued at Rs16,400 per 100 kilogrammes. Different sugar mills are offering rates ranging from Rs15,800 to Rs16,600 per 100 kilogrammes.

    According to Samaa, despite the ongoing dynamics, there is still no officially defined market rate for sugar, leaving room for potential further spikes in pricing. Furthermore, considering the current market conditions, the export of sugar has been placed under a temporary prohibition.

  • Govt aims to resolve issues of the business community: Finance Minister

    Govt aims to resolve issues of the business community: Finance Minister

    Federal Minister for Finance and Revenue Ishaq Dar said that the goal of the current administration is to facilitate the business community and maintain the trajectory of the nation’s economy.

    According to a press release, he said this while speaking with a team from the Pakistan Sugar Mills Association (PSMA) led by its chairman, Asim Ghani Usman.

    Senior officers from the Finance Division as well as Federal Ministers for Industries and Production Syed Murtaza Mahmud, National Food Security and Research Tariq Bashir Cheema, SAPM on Finance Tariq Bajwa, Chairman FBR, Vice Chairman PSMA Iskander M. Khan, and Vice Chairman PSMA Ahmed Ebrahim Hasham attended the meeting.

    The Finance Minister was informed about the sugar industry’s contribution to the nation’s overall economic development by PSMA Chairman Asim Ghani Usman.

    He also gave a presentation to the group on the problems the sugar sector is having with the GST, stock availability, and sugar export.

    Senator Ishaq Dar, the minister of finance, highlighted the need of sustaining sugar prices and strategic reserves in order to provide the greatest amount of comfort to the general populace.

    He told Chairman PSMA that the current administration is aware of the problems that Pakistan’s sugar sector and sugar cane farmers are now facing.

    Dar promised the group he would deal with their concerns and find a solution as soon as possible. He also offered them his complete support and collaboration.

  • ‘I should get justice by now’: Jahangir Tareen

    ‘I should get justice by now’: Jahangir Tareen

    Speaking to the media outside a Lahore sessions court, estranged Pakistan Tehreek-i-Insaf (PTI) leader Jahangir Tareen on Monday said he wants justice. “Don’t do politics with us, do justice with us,” said Tareen.

    Tareen was asked by a reporter if he had any contact with any high-ranking government official in Islamabad.

    “I have had no meeting with any senior government official. There was no meeting and this news is wrong and based on a misunderstanding. We are fighting our case in court and waiting for (Senator Barrister) Ali Zafar’s report,” he responded.

    Tareen said speculations were doing the rounds that Zafar had provided a “verbal report” to Prime Minister Imran Khan, which he said, was in his favour.

    “Imran Khan promised justice will be done. A lot of days have passed, I should get justice by now,” he said.

    Tareen said whatever Zafar had said about the cases against him should be made public.

    When questioned if the report was against him, would he accept it, the sugar baron answered: “We know some things which I don’t want to tell in the media. When the report comes and whatever happens then I will put everything in front of the media.”

    MNA Raja Riaz, a member of the pro-Tareen group, had previously said that Barrister Zafar had completed his probe and given a ‘clean chit’ to the disgruntled PTI leader. However, Senator Ali Zafar later rubbished those claims and said that no report had been submitted by him.

  • ‘Satisfied with cool winds blowing from Islamabad’: Tareen

    ‘Satisfied with cool winds blowing from Islamabad’: Tareen

    Jahangir Khan Tareen said on Thursday that he has been given an assurance that Prime Minister (PM) Imran Khan will meet his group soon.

    “Now that a cool wind is blowing from Islamabad, we are satisfied,” said Tareen.

    Tareen also claimed he has the support of 40 lawmakers.

    Talking to the media outside a sessions court in Lahore, Tareen said that when the Pakistan Muslim League-Nawaz (PML-N) was in power, the government investigated his business and sent him notices but even the PML-N did not do to him what is being done now. “Even the PML-N did not turn a civil case to a criminal case, which has been done now.”

    Information Minister Fawad Chaudhry told anchorperson Adil Shahzeb that he does not know about any upcoming meeting between Tareen and PM Imran. “Frankly I have not talked to either of the two about this.” Chaudhry added that Tareen played an important role in the formation of the Pakistan Tehreek-e-Insaf (PTI) government. “Everyone acknowledged and appreciates Tareen sahab’s role.”

  • 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.

  • Action against Jahangir Tareen hurt me like dropping my cousin Majid Khan from cricket team: PM

    Action against Jahangir Tareen hurt me like dropping my cousin Majid Khan from cricket team: PM

    Prime Minister (PM) Imran Khan has said that taking action against his friend and colleague Jahangir Khan Tareen over the sugar scandal hurt him like dropping his cousin and former Pakistan cricketer Majid Khan from the team.

    “These were two of the hardest decisions I ever had to make in my life,” he said while speaking to senior journalist Kamran Khan during a wide-ranging interview on Dunya News.

    To a question regarding the inquiry into the sugar crisis, the premier said Pakistan Sugar Mills Association (PSMA) had “threatened Wajid Zia, warning him to stop whatever he was doing”. He said that it thought that the government would buckle if the sugar prices rose.

    “I will fight the sugar mafia,” he added.

    The PM noted that sugar sales in Punjab doubled in July but it emerged that it was being sent from Punjab to Sindh.

    “The PTI is not in power in Sindh so they are hoarding sugar there,” he explained. “The Sharifs, the Zardaris, and many other politicians own sugar mills.”

    “They can blackmail me as much as they want but I will not let off the hook unless and until they abide by the law,” the premier said, adding that the public institutions would make a decision on the sugar inquiry report.

    He then mentioned his longtime friend Tareen, saying he “did the most with me in my struggle over the past seven to eight years”.

    PM Imran also categorically denied that Pakistan would recognise Israel — a few days after the UAE established formal relations with Tel Aviv — stating that Islamabad won’t do so until Palestinians are not given their right to a “just settlement”.

    “Whichever country wants to do it [recognise Israel], our stance is very clear. Our stance was cleared by Quaid-e-Azam Muhammad Ali Jinnah in 1947-48,” said PM Imran. “Which was that we will never recognise Israel till the Palestinians do not get their rights.”

    He said that Pakistan will not establish diplomatic relations with Israel till the Palestinians do not get a separate state of their own, which the people of Palestine accept, based on the Two-Nation Theory. 

    The premier said that if Pakistan agreed to recognising Israel and gave up its principled stance then it will have to stop raising the issue of Kashmir as the situation in the disputed area was the same. 

    “Hence, Pakistan cannot recognise Israel,” he stated.

    The premier said Karachi would have progressed if not for the ethnic politics of the 1980s.

    Earlier today, Khawaja Izharul Hassan, a leader of the ruling PTI’s coalition partner, the MQM-P, had said a committee to resolve Karachi’s problems was not a solution.

    It was reported late last week that the federal and Sindh governments had agreed on forming a committee comprising representatives of the city’s three main stakeholders — the ruling PTI, PPP, and the MQM-P — to address the metropolis’ longstanding civic issues.

    In his comments today, the premier said looking at the port city in its current state was painful. “The MQM-P founder spread hatred among people [of Karachi] and divided them; he wreaked havoc in Karachi.”

    “The situation in Karachi is dire,” he added.

    He said he has approached the courts on the issue of local government system in Sindh.

    “I intervene in Punjab and Khyber Pakhtunkhwa because we have the PTI’s government there,” the premier explained, adding that if the Centre intervened in Sindh, the provincial leadership “will make a fuss”.

    “We are going to do whatever we can for Karachi,” he vowed.

    Speaking about his political career, PM Imran said his “whole life had been spent in struggle”. “I was nine years old when I started this struggle,” he added.

    “Those who do not know how to struggle falter,” the PM underlined.

    Referring to the time he was voted into office, he said Pakistan was close to defaulting, the public institutions were destroyed and the rupee weakened.

    “Depreciation of the rupee leads to inflation,” he said, adding that the government was paying instalments for the loans the rulers of the past had obtained.

    He said that while he was attempting to make the country a welfare state, the elites gathered and are trying to overthrow the government.

    With regard to power, the premier said electricity in Pakistan was costlier but sold at a cheaper rate, noting that “we are producing the most expensive electricity in the world”.

    If electricity prices had not been revised upwards, the country would have had to take loans, he noted. 

    A comprehensive power policy is set to be introduced in a couple of weeks, he added.

    Speaking of the ongoing coronavirus pandemic, the prime minister said many people talked about how he did not understand the crisis.

    “Our party and the Opposition leaders kept saying that everything should be shut down during the corona [virus pandemic],” he noted. “A strict lockdown was imposed in Sindh; that was their [provincial government’s] right after the 18th Amendment.”

    “We had to endure a month of criticism during corona,” he said. “I told Bill Gates that we saved our lower class by imposing a smart lockdown,” he added.

    Referring to Pakistan’s anti-graft watchdog, the National Accountability Bureau, he said: “We’re not dictating [NAB’s actions].”

    Speaking of the Opposition parties, the PM said their leaders had only one goal and that was to blackmail him. “Should I have given them NRO,” he asked rhetorically.

    He said the Opposition parties wished to do away with clauses that would eventually bring an end to NAB. They were also blackmailing the government over legislation related to the Financial Action Task Force (FATF), he added.

    Throwing a jibe at the PML-N vice-president, he noted that there was stone-pelting when Maryam Nawaz was going to NAB’s office in Lahore for an appearance.

    “They go to the NAB as if Nelson Mandela is going to NAB.”

    “We are strengthening the FIA [Federal Investigation Agency],” the prime minister said, adding that the accusation against the Punjab chief minister pertaining to alcohol licensing was a “joke”.

    The chief executive of the biggest province, Punjab, was summoned over the alcohol licensing issue but excise department’s officials should have been called, he noted.

    Summoning Punjab Chief Minister Usman Buzdar led to suspicions, he lamented.

    “Attacks are launched at Usman Buzdar and that makes me very sad,” he said. “He has become the chief minister for the first time and he is learning,” he said, adding that Punjab was making rapid progress.

  • 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.

  • Imran govt for tightening of noose around necks of ‘sugar daddies’

    Imran govt for tightening of noose around necks of ‘sugar daddies’

    Prime Minister (PM) Imran Khan’s aide on accountability Shahzad Akbar has unveiled a comprehensive action plan outlined by the government to take to task the “sugar daddies” identified by the sugar inquiry commission as well as for an overall overhauling of the regulatory framework which had all the while “been in cahoots with the sugar mills”, Geo reported.

    “Imran Khan was given a mandate for accountability in 2018. His 22-year political struggle has been for the same. For accountability of the powerful and influential. This was a big test for that mandate,” said Akbar, during a press conference in Islamabad alongside Information Minister Shibli Faraz.

    Referring to the all parties conference called by the PPP in Punjab, Akbar went on to say, “This is not an all parties conference, it is an all sugar daddies conference.”

    Akbar said that no matter how powerful a person is, no matter the party they belong to, or however wealthy, “no exceptions can be made” for anyone, and this was the line of inquiry followed by the probe commission.

    “Transparency is of utmost importance when it comes to accountability. Before we take action over whatever matter is being pursued, it must be put before the people. That is why the report was made public,” said the premier’s aide.

    He said the public, farmers, as well as industrial experts had been consulted over an “action matrix” that was developed.

    Akbar said that the PM had approved three sets of actions during a meeting in Bani Gala earlier in the day, which he then proceeded to delineate.

    These actions form the first set of actions approved by the premier and consist of the punishments to be given as well as the recovery mechanism to be enacted.

    Within the broad category, seven major actions, including investigation of subsidy scandal, investigation of income and sales tax fraud, evasion and benami transactions, investigation of cartelisation, inquiry and investigation of export proceeds, loan defaults, write-offs and sale of pledged stocks, investigation of corporate fraud, investigation of potentially fake exports to Afghanistan and money laundering, and breach of provincial laws, were recommended.

  • ‘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.