In a bid to launch a crackdown on the sugar mafia, the Federal Investigation Company (FIA) on Thursday served a discover to Makhdoom Shehryar, the brother of the Federal Minister for Financial Affairs Khusro Bakhtiar, for allegedly promoting sugar by the observe of satta (price-fixing by collusion).
As per the discover, the company has additionally ordered Makhdoom Shehryar to go to its workplace on April 15, 2021, whereas he’s additionally requested to point out the paperwork associated to the promoting of sugar by satta. That apart, Makhdoom may also have to clarify the process adopted by his mill to e book and promote sugar by the method of satta.
Per the discover, the administration and shareholders have been accused of being concerned with the satta mafia, including that the latter is minting unlawful cash with the assistance of sugar mill house owners.
Commenting on the matter, Minister Khusro Bakhtiar maintained that whereas he had shares within the firm previously, he doesn’t have them.
Final month, the Business Banking Circle of the FIA had arrested seven individuals allegedly concerned with the sugar satta mafia which persistently elevated sugar costs by creating a man-made scarcity of the commodity.