Will take strict action against those involved in sugar shortage, artificial price hike: Shahzad Akbar
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Will take strict action against those involved in sugar shortage: Shahzad Akbar
ISLAMABAD (Dunya News) - Prime Minister Imran Khan’s Special Assistant on Interior and Accountability Shahzad Akbar has said that strict action will be taken against those involved in sugar crisis and price hike through speculation.
Addressing a press conference in Islamabad, he said that action taken against those involved in the Sugar Scam on recommendations of the Sugar Commission Report was transparent and the government has not provided protection to anyone.
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Colombo (News 1st); The government continues to maintain that a scam did not take place when importing sugar to the country, Chairman of the Committee on Public Finance Anura Priyadarshana Yapa told reporters on Wednesday (17).
“The import tax on multiple commodities including sugar was reduced to 25 cents in October 2020, and it remains unchanged because the government wants a considerable period to reduce prices,” he said.
If the tax which was reduced to 25 cents was increased to Rs. 50/- within a short period, then one can assume a scam had taken place, however, that is not the case, said Anura Priyadarshana Yapa.
First the Sugar Scam, and now the Coconut Oil Scam; Alleges Activist
First the Sugar Scam, and now the Coconut Oil Scam; Alleges Activist
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Colombo (News 1st); Activists have alleged a scam had taken place when importing coconut oil to Sri Lanka.
Attorney-at-Law Inoka Hettiarachchi from a rights movement alleged in July 2020 coconut oil imports to Sri Lanka had increased by 278% and Pyramid Wilmar Pvt Ltd had imported coconut oil in large volumes during that period.
She also alleged that Pyramid Wilmar Pvt Ltd had made massive profits from the Sugar Scam, while the state lost tax revenue.
COLOMBO (News 1st): The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has launched a special investigation into the Sugar Scam - Get the latest breaking news and top stories from Sri Lanka, the latest political news, sports news, weather updates, exam results, business news, entertainment news, world news and much more from News 1st, Sri Lanka's leading news network.
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Colombo (News 1st); The scam related to the importation of sugar to Sri Lanka, which is widely known as the Sugar Scam is similar to the Central Bank Treasury Scam, which involved insider information and causing losses to the state.
INSIDER INFORMATION
In the Treasury Bond Scam, Perpetual Treasuries Limited, a primary dealer company owned by Arjun Aloysius benefited from Insider Information given by then Governor of CBSL Arjuna Mahendra, who is also the Father-in-Law of Aloysius.
The report of the Presidential Commission of Inquiry revealed the Insider Information related to the number of bonds that were to be accepted as well as other key price-sensitive information.