These sugar mills defaulted on Rs 23 billion loans taken from public sector banks. Here’s how they’re linked to major political players

At least 25 sugar mills owned by influential individuals with ties to the country’s political elite have defaulted on loans worth over Rs 23 billion taken from the state owned National Bank of Pakistan (NBP). 

The revelations came to light as part of an audit of NBP and revealed a number of major defaulters. Many of these defaulters have strong and often direct ties to government politicians. The sugar industry in Pakistan is one of the most powerful in the country. Almost all of the 91 sugar mills in the country are owned by household name politicians and their families, all of whom belong to different political parties. Profit has covered the nexus between sugar barons and politicians in the past.