The Competition Commission of Pakistan (CCP) has asked Pakistan Sugar Mills Association (PSMA) and 55 sugar mills to pay within two months the Rs44bn fine they have been slapped with. However, there are indications that the association and the mills would be able to evade the fine which is being dubbed as historical. The CPP has imposed a fine of Rs44bn on the PSMA and 55 sugar mills after a year-long investigation into the sugar crisis that hit the country in 2019 and permanently raised sugar prices. The CPP has held a total of 81 sugar mills responsible for cartelization and plans to announce fines for 26 mills after determining their turnover. The total fine could be as high as Rs60.
PSMA, 55 Sugar mills fined Rs44bn for widespread manipulation
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CCP imposes Rs44-billion penalty on Pakistan Sugar Mills Association
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