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Cabinet decides action against officials involved in causing loss to exchequer

Cabinet decides action against officials involved in causing loss to exchequer
October 5, 2021 Web Desk

Sohail Iqbal Bhatti

ISLAMABAD – Federal cabinet has decided to take action against all those officials who have caused 'heavy' loss to the national exchequer with delay in the imports of expansive sugar to the country.

According to documents, the federal government has been trying hard to ensure relief to the general public in form of subsidies despite an upward trend in the prices in international market. However, some officers have allegedly been involved in causing delay in the import of sugar to the country and provision of subsidies to the general public. And, now the federal cabinet has decided action against the officials and directed that Secretaries Industries & production and National Food Security & Research, should jointly develop a mechanism to subsidize only the 307o sugar being consumed by the public and present it to the Minister for Finance & Revenue, said sources.

As per details, during discussion, a member pointed to the loss to national exchequer caused by the import of sugar at a higher price due to delay. He demanded that responsibility must be fixed.

Minister for Finance & Revenue/Chairman ECC assured that enquiry was being conducted and those responsible for indecision and procrastinating, would be proceeded against. He further informed that the differential between the cost of imported sugar and the price Rs. 89.75 fixed by the provinces, would be picked up by the federal government.

It was pointed out that 7O% of the national consumption was by the beverage, biscuits, candy etc. industry and only 30%being used by the general public.

It was suggested that Secretaries Industries & Production and Food Security & Research, should jointly develop a mechanism to subsidize only the 30%sugar being consumed by the public and present it to Minister for Finance & Revenue.

The relevant Divisions briefed the Cabinet that sufficient stocks of sugar and wheat were available in the country and there may not be any need for further imports. And, Minister for Finance & Revenue was of the view that although the stock position was satisfactory, but it would be prudent to have strategic reserves in case of any eventuality.