Islamabad: Prime Minister Imran Khan on Monday ordered strict action against those involved in sugar hoarding and profiteering to provide some relief to the people amid inflation worries.
The decision was taken at a meeting regarding price control in Islamabad chaired by PM Imran Khan. The government “decided to initiate strict legal action against hoarding and profiteering” and agreed to strictly implement the crushing laws.
The prime minister said “profiteering and hoarding will not be tolerated” under any circumstances. He urged provincial and district governments to take action to provide relief to the masses.
Key cabinet members attended the meeting. The participants decided to bring the entire sugar stock for sale in the market and start sugarcane crushing across the country from November 15.
Khan directed to implement Sugar Factories (Control) Amendment Act 2021, Punjab Prevention of Hoarding Act 2020 and Punjab Registration of Godowns Act 2014 against sugar mafia and hoarders.
The government announced action after the sugar price shot up to Rs150 to 160 per kilogram in most parts of the country. The government has announced to install a track and trace system to monitor the production level at sugar mills and to prevent commodity hoarding and price gouging. Around 15,000 tonnes of sugar is consumed daily in Pakistan, at least 6,000 tonnes at the household level and 9,000 tonnes at commercial level.
Taking action against those involved in hoarding, Lahore city administration arrested two suspects involved in an artificial sugar price hike. Rawalpindi district administration arrested at least 19 shopkeepers and imposed Rs200,000 fines on the violators.
Meanwhile, Punjab Chief Secretary Kamran Ali Afzal also held a meeting with Pakistan Sugar Mills Association (PSMA) delegation to resolve the issues faced by the sugar industry and ease the pressure off masses.
The government officials say they have intensified the crackdown against the sugar mafia but judicial stay orders attained by the sugar mill owners hinders action. The Competition Commission of Pakistan (CCP) has also imposed the penalty of Rs44 billion on the sugar industry for being engaged in cartel conduct, price fixing and market manipulation but no fines were recovered due to stay orders, government officials said.
