ISLAMABAD: Prime Minister Imran Khan on Friday formed a three-member committee to probe the recent hike in sugar prices. The committee comprises the Federal Investigation Agency (FIA) director general, a representative of the Intelligence Bureau not below grade 20/21, and the Punjab Anti-Corruption Establishment director general. The committee has been tasked to ensure efficient monitoring of sugar production, its pricing, industry malpractices (market manipulation/cartelization) and impact on farmers etc. On February 7, the premier had approved a summary to ban the export of sugar and to allow the import of 300,000 tonnes sugar through the private sector in a bid to stabilise domestic prices. Subsequently, on February 10, the Economic Coordination Committee okayed the PM’s decision to ban sugar exports but decided against importing the commodity.

Source: Pakistan Today February 21, 2020 16:52 UTC