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Daily Briefs


Photo : Dawn

8 April 2020, Wednesday

Sugar crisis cost common man Rs86 billion



300 VIPs misused public funds in hundreds of billions

PR Daily Brief | PR Team

DAILY BRIEFS
by Lakshmi V Menon


Sugar crisis cost common man Rs86 billion
According to data analysis, the sugar crisis or the unchecked peaking costs of sugar has cost consumers Rs86bn from December 2018 to February 2020, of which Rs76bn went to sugar mill owners. Additionally, they also availed a Rs 3bn subsidy from the Punjab government. Over 51 per cent of the Rs76bn went into the pockets of six influencial families. From Rs51.64 in December 2018, the ex-mill price for sugar increased to Rs71.64 in February 2020. However, it must be noted that price of sugar cane had surged from a support price of Rs190 per 40kg to Rs217 in Punjab and Rs226 in Sindh. (Dawn, 7 April 2020) 
 
300 VIPs misused public funds in hundreds of billions
The Inquiry Commission on Debt’s (ICOD) officials claim over 300 bigwigs may come under fire for misusing “public funds worth hundreds of billions taken as foreign loans” across 2008-2018 (during regimes of PML-N and PPP), once the comprehensive report is released in the third week of April. The findings include delays, misuse of authority, misappropriations, irregularities and time procedural faults. (Dawn, 7 April 2020) 

Considering issues of inefficiency, poor planning, incompetency and mismanagement, the ICOD identified BS-20 to BS-22 officers across provincial and federal government departments, institutions, semi and assisting government authorities. It revealed 23 entities and 200 key individuals involved in suspicious dealings worth Rs450bn via 220 private accounts across 150 private and public projects. Controversial projects like BRT Peshawar Project (estimation peaked from Rs30bn to Rs75bn) and Neelum-Jhelum Hydropower Project (estimation peaked from Rs84bn to Rs500bn) were investigated. Various projects of railways divisions, Ports and Shipping, HEC, health, information/science technology, Interior Division, Population and Women development projects and Cabinet Division, Climate Change Division and Communications Division were also scrutinized.  

Causes for the surge in public debt and liabilities from Rs6,690bn in 2008 to Rs30,846bn till September 2018 were analyzed. ICOD, during its interactions with the Centre to gain legal assistance from foreign jurisdictions, has also identified non-cooperative departments.

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