Islamabad: Federal cabinet decided to allow National Accountability Bureau and Federal Investigation Agency to audit all sugar mills.
FIA in a forensic report indicated that sugar mills create cartel for price manipulation. Fedral cabinet approved proposal of audting all those sugar mills which were established after 1985.
A large number Sugar Mills are owned by political families in Pakistan. Therefore, a political uncomfortable situation is expected in the coming weeks.
Today 14 sugar mills were traded in the Pakistan Stock exchange. This sector is now expected to be under pressure due to investigation of companies’ audit.