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Tareen says JDW exported less sugar than market share

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Pakistan Tehreek-e-Insaf (PTI) leader Jahangir Khan Tareen on Saturday responded to the query report concerning the sugar crisis and stated that his business, JDW Sugar Mills, exported less sugar than its market share.

In a tweet, he stated his business share had to do with 20 percent in the market whereas the export stood at 12.28 pc, so it was“less than I could have” About the export of sugar, he stated export was on a first come first serve basis.

Speaking about the aid, he stated Of the overall Rs3bn aid, he got 2.5 bn throughout the period of Pakistan Muslim League-Nawaz when he remained in opposition.

According to the report launched previously in the day, sugar rate was increased from Rs 55 per kg in December 2018 to Rs 71.44 per kg in June 2019, regardless of the truth that the General Sales Tax (GST) boost was executed from July 1,2019 After the export of sugar in January 2019, its rate began increasing right away in the regional market.

The significant recipients of the aid provided by the federal government on export of sugar consist of RYK Group, owned and managed by Makhdum Omer Shehryar, a relative of Federal Minister for Food Security Makhdum Khusro Bakhtiar, which availed 15.83 percent of the overall export aid totaling up to Rs3.944 billion. Chaudhry Munir and Pakistan Muslim League-Quaid (PML-Q) senior leader Moonis Elahi are likewise partners in this group.

JDW Group owned and managed by senior PTI leader Jahangir Khan Tareen availed 12.28 percent of the overall export aid totaling up to Rs3.058 bn, while Hunza Sugar Mills availed 11.56 percent of the overall aid totaling up to Rs 2.879 bn. Hunza Sugar Mills is owned by Muhammad Waheed Chaudry, Idrees Chaudhry and Saeed Chaudhry.

Sugar mills owned by the Sharif family availed 5.91 percent of the overall export aid totaling up to Rs1.472 bn.

The post Tareen says JDW exported less sugar than market share appeared first on World Weekly News.



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