Public Accounts Committee sees bitterness in sugar sector
As a nationwide crackdown on sugar hoarders is underway, the Public Accounts Committee (PAC) has raised serious concerns over mismanagement in the sugar sector, loan defaults by mills, and large-scale irregularities involving public institutions. During its sitting on Wednesday, National Food Security Secretary Amir Mohyuddin revealed that although the area under sugarcane cultivation increased this year, overall production had declined compared to the previous year. Out of 82 registered sugar mills, only 79 participated in the crushing season, which typically begins in November. The secretary admitted that Pakistan currently has no buffer stock of sugar, and a summary has been sent to import 500,000 tons, of which 300,000 tons are already planned. Committee members, particularly Riaz Fatyana and Junaid Akbar, criticised what they described as a “massive sugar cartel” that manipulates supply and prices. Mr Fatyana asked why 7.5 million metric tons of sugar were allowed to be exported, alleging it was done to artificially inflate local prices.