Parliamentary committee uncovers irregularities in sugar stock reporting, calls for reforms

A subcommittee of the National Assembly's Standing Committee on Commerce has uncovered irregularities in the sugar sector, including the misreporting of stock quantities, the creation of artificial shortages, and discrepancies in official records. 

The sub-committee's report, submitted on Wednesday, also highlighted weak monitoring systems, lapses in verification, temporary disruptions in tracking technology, and unresolved legal and administrative challenges as major contributors to market distortions. 

The Standing Committee on Commerce, after reviewing the findings, has made several key recommendations for reforms and improved oversight of the sector. It directed the Ministry of National Food Security and Research to submit a formal response to the findings within one month.

The sub-committee, chaired by MNA Jawed Hanif Khan, conducted extensive consultations with relevant stakeholders before compiling the report. The committee underscored the importance of structural reforms, better governance, and greater transparency and accountability in ensuring market stability and protecting consumers from future disruptions.

In addition, the committee discussed the need to gather detailed information from the Finance Division and the Trading Corporation of Pakistan (TCP) regarding outstanding receivables and pending recoveries related to public sector procurement.

The standing committee also addressed concerns regarding multinational companies scaling back or exiting operations in Pakistan. The ministry cited factors such as over-taxation, inflation, and high operating costs as key reasons. To address these issues, the prime minister has formed private-sector-led committees to propose solutions, and the standing committee has recommended further engagement with the business community to mitigate challenges.