Prime Minister Imran Khan has asked investigative teams to take decisive action against the owners of thirty-eight sugar factories involved in Sugar Price Fixation and Hoarding. The step is being termed significant as Federal Investigation Agency (FIA) could arrest several millers facing charges of money laundering, sugar Satta, and insider trading.
Prime Minister Khan advised his special Assisstant, Shahzad Akbar, to order FIA Lahore to submit final report on the case within next four weeks to conclude the open investigation.
“We are definitely going to take action against the owners of three groups of sugar factories.” We have already received enough evidence against them, “said a member of the FIA team.
The FIA investigation team informed Akbar of the progress of the sugar investigation and highlighted the ongoing investigation against the JDW group last Friday.
The FIA investigation team conducted a forensic audit of all JDW Group accounts maintained by Jahangir Khan Tarin. The panel also reviewed the JKFSL valuation report prepared by AF Ferguson & Co and all audited financial statements prepared by Kamran lqbal Yousafi FCA, KPMG-Taseer Hadi and Co-Chartered Accountants.
The FIA teams has said that its has evidences against thirty-eight sugar mills regarding illicit price hikes and money-laundering of roughly Rs110 billion.
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