FIA uncovers documentary evidence against Pakistan sugar mafia
Prices for May 2020 were set three months in advance SAMAA | Naeem Ashraf Butt - Posted: Apr 1, 2021 | Last Updated: 4 days ago SAMAA | Naeem Ashraf Butt Posted: Apr 1, 2021 | Last Updated: 4 days ago
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The Federal Investigation Agency has uncovered documentary evidence that explains how brokers and speculators fix sugar prices months in advance.
The agency recovered 500 books and files of forward contracts for sugar during multiple raids in Lahore.
The record shows the price of 110kg of sugar was Rs9,000 on March 15, 2021. The bookers were setting the prices for the month of April and May at Rs9,500 for wholesalers. A 100kg sack was then sold for around 9,800 in the market.
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Punjab
Pakistan
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