On Sunday, Special Assistant to Prime Minister Imran Khan on Accountability Shehzad Akbar said that Prime Minister Imran Khan had approved strict action against the people listed in the report of the Sugar Forensic Commission.
Last month, the government released a report by the Sugar Forensic Commission (SFC) set up to investigate and assign responsibility for recent commodity shortages and rising prices in the country.
Addressing a press conference in Islamabad along with Information Minister Shibli Faraz after meeting the Prime Minister on Sunday, Akbar said that those who violated the law recovered looted money, and brought about reforms in regulatory and oversight reforms. It has been decided to take punitive action against the sugar mill owners. System.
'Seven major measures have been approved by the premier. The entire issue of subsidy of Rs 29 billion to sugar mill owners will be investigated by the National Accountability Bureau (NAB). Any company that commits violations after receiving the subsidy will be NAB. Will be investigated by the federal or provincial governments.'
Political families entered the sugar business in the 1990s and since then they have crushed everyone in the industry. In the 1990s, a famous family exported sugar to India. The NAB will also investigate the matter and in this regard, there will be a reference. Draft
'The nine mills we have already mentioned were not the only beneficiaries, but almost all the 80 sugar mills,' he said.
Akbar said the Federal Board of Revenue (FBR) would launch an investigation into the sales tax fraud, with mill owners showing low income and anonymous transactions, which he said was evidence of the report. Have found It has been directed to ensure that judgments on cases and recoveries are made within 90 days. He further said that FBR has also been directed to conduct forensic audits of all the mills except those mentioned in the report.
'Recovery could add a significant amount to the national treasury [as a result of these investigations.'
The SAPM said the third act, which the premier approved, was an investigation into cartelization by the Competition Commission of Pakistan (CCP). 'These companies have become wolves and harmed people and the CCP has failed to investigate it in the past. A new team has been formed which will submit a report in 90 days.'
The State Bank of Pakistan will be directed to investigate companies that show counterfeit exports or that have 'converted foreign remittances into halal income', defaulted on loans, or sold stocks. It will also submit a report to the Finance Ministry in 90 days. 'Not just ordinary news, the SBP will mention companies and their fraud. Violators will face heavy fines.'
The Special Assistant said the Federal Investigation Agency (FIA) and the Securities and Exchange Commission of Pakistan (SECP) would investigate corporate fraud.
The FIA will also investigate counterfeit exports and money laundering in Afghanistan. 'Every receipt will be scrutinized and the FIA will file cases against them in the courts within 90 days,' Akbar said.
Akbar added that an investigation would also be launched to find out where the provincial laws were broken. Sugar mill owners have increased their capacity without showing up for official profit. Most importantly, some mills did not pay farmers on time and showed higher prices on sugarcane harvesting. Anti-corruption units will investigate, Akbar said, adding that Punjab, Khyber Pakhtunkhwa, and Sindh.
Citing the recommendations made by the SFC, Akbar said 'the regulatory framework will be scrapped'. The commission recommended that technology and IT be promoted on a large scale, including setting up an online stock system and putting barcodes on sugar bags, the SAPM said.
He said that the Prime Minister had also recommended that a committee be constituted under the Minister of Industry, Hamad Azhar to determine the cost of production and fix the price of sugar accordingly.
Akbar concluded, 'The government will unite all the mafias of the country. Everyone will be held accountable, no matter how rich or politically powerful they may be. No concessions can be made.'
Information Minister Shibli Faraz stated, 'Many people thought that no action would be taken because there are some big names in the report but accountability is the first priority of the government.' He added that the operation would benefit farmers and that efforts would be made to recover the looted money.
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