ISLAMABAD: The Federal Investigation Agency (FIA) has frozen more than 100 fake and benami bank accounts of important members of sugar mafia, local media quoted sources as saying.
The sources said that 20 teams of the FIA were mobilized to lay hands on sugar cartel. They said that the sugar mafia involved in speculative pricing committed heinous monetary fraud, as they swindled poor masses out of Rs110 billion.
The FIA has initiated inspection of secret assets of the sugar cartel members.
Nine sugar mills across the country have been blacklisted for failure to perform in accordance with the contract awarded by the Trading Corporation of Pakistan (TCP) for supply of sugar.
The TCP also banned the sugar mills from participating in the tenders floated by it or department/ organization of federal or provincial government. It has asked the federal and provincial governments to take action against the companies.
The blacklisted sugar mills did not comply with the awarded tenders between 2007 and 2013. They were awarded tenders for the purchase of 174,515 metric tons of sugar. They stocked the commodity in their godowns and waited until the prices were high in the market.