ISLAMABAD, March 19: Federal Investigation Agency (FIA) has sought contact details of individual of high worth in sugar industry for investigating the sugar prices and crisis.
The investigation is marked by the Prime Minister asking the chief crime agencies of the state to find out the truth behind the sugar hoarding and other issues.
A letter is addressed to the Chairman, Pakistan Telecommunication Authority, Islamabad titling, “FIA action against sugar hoarders and unrelated individuals/fake buyers”.
It is asking further, “It is requested that the matter has been taken up by Hon’ble Prime Minister of Pakistan on 05.02.2025 regarding the subject enquiry.
In this regard, contact numbers / cell numbers of following individuals may kindly be provided to this Office to finalize the enquiry on merit”.
11 Names of Industry Contact Details
11 Names are given in the list. These are Aneeb Faraz with CNIC 37105-4974957-9, Muhammad Arshid s/o Abdul Qadir CNIC 42301-4568613-3, Muhammad Anwar s/o Ali Akbar CNIC 37405-2972140-9. Moreover, Muhammad Yasir s/o Muhammad Faizan CNIC 13503-1486010-9 and Rashid Alam s/o Saif ud Din CNIC 82202-6702237-9.
Read More: Govt Plans Major Crackdown on Sugar Sector Tax Evasion
It further asks about Younas CNIC 37406-1600452-7, Muhammad Shoaib Sohail s/o Muhammad Azad CNIC 37105-9270068-9 and Ahsan Shabbir s/o Ghulam Shabbir CNIC 37102-0212860-3.
Moreover, Muhammad Arif CNIC 37406-9816123-3, Abdur Rasheed Meer CNIC 82201-7450057-3 and Muhammad Naveed Awan CNIC 37405-8608921-3.
PM Grants FBR, FIA, IB Authority to Combat Sugar Hoarding
Earlier, Prime Minister Shehbaz Sharif has empowered the Federal Board of Revenue (FBR), Federal Investigation Agency (FIA), and Intelligence Bureau (IB) to take decisive action against sugar hoarders, who have amassed an estimated Rs140 billion in unwarranted profits.
This move comes as part of a broader effort to curb malpractice within the sugar industry.
As part of a two-phase approach, intelligence officers have been stationed at sugar mills to monitor financial transactions and gather evidence of market manipulation.
Read More: Sugar Price Hike? PSMA Punjab Says Exports Not to Blame
Authorities have already collected vital information regarding stockpiling and financial transactions that have inflated sugar prices and harmed consumers for years.
These findings include the identification of key players engaged in hoarding, creating fake accounts, and inflating prices artificially.
Cases Under Investigation
With this evidence, authorities are preparing to file criminal charges under anti-money laundering laws, tax evasion statutes, and anti-hoarding regulations.
The Prime Minister himself is closely overseeing this campaign, ensuring that no one, regardless of political affiliations, escapes accountability.
In the second phase of the crackdown, if market forces remain uncooperative, the government will directly target sugar mill owners involved in concealing stockpiles and manipulating prices through fraudulent accounts.
The impact of this action has already been noticeable, with sugar prices decreasing from Rs175-185 per kilogram to Rs165 per kilogram between March 13 and March 16, 2025.
Huge Rs140 billion Unwarranted Profit
Additionally, the Ministry of Production has summoned sugar mill owners and major dealers to Islamabad for a meeting to discuss the recent surge in sugar prices during Ramazan.
This price hike occurred despite an earlier agreement between the government and the Sugar Mills Association to keep prices stable in exchange for export approvals.
Also Read: CCP Tracks Sugar Crisis, Vows Action against Cartels
Sugar prices had been rising steadily over several months.
In November 2024, the national average price of sugar was Rs137 per kilogram. By March 2025, this had risen to Rs173 per kilogram, with some cities seeing prices as high as Rs180-185 per kilogram.
Speculators had even predicted that prices could surge to Rs200 per kilogram in the coming months and potentially reach Rs220 per kilogram by the end of the crushing season in November 2025.
