Sugar Shortages Due to Faulty Data Govt to Deregulate
Government’s Reliance on Faulty Data Led to Sugar Stock Shortages, Says Competition Commission
In a briefing to Finance Minister Muhammad Aurangzeb, Dr. Kabir Ahmed Sidhu from the Competition Commission of Pakistan (CCP) revealed that the government allowed sugar exports based on inaccurate estimates, which caused a significant drop in sugar stocks.
The CCP chairman emphasized that past and current sugar crises stemmed from relying on data provided by the sugar mills association, which may not be reliable. He urged that future decisions should be based on independent and transparent information.
During the briefing, the CCP also reviewed sugar crises from 2008, 2015, and 2019, noting that in each case, sugar supply had been deliberately restricted.
The commission highlighted that orders had been issued against sugar cartels in 2010 and 2021, although the decision from 2010 has not yet been made public.
Responding to the briefing, Finance Minister Aurangzeb assured that the government would support the early hearing of related cases and strengthen the Competition Commission’s authority.
He further stated that the sugar sector would be fully deregulated, increasing the CCP’s critical role in overseeing the market.
The minister also promised to make it easier for the CCP to access data from other institutions to aid its investigations.
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