Rs 588 billion tax on sugar factories: Shahzad Akbar



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Prime Minister’s Home and Accountability Advisor Lawyer Shahzad Akbar said the Federal Board of Revenue (FBR) completed a five-year tax audit of 69 sugar factories and they were taxed of approximately Rs588 billion as well as a fine of Rs42 billion for cartelization.

Speaking to a press conference here on Saturday, the adviser pointed out that 10 of those factories have taken suspensions from various high courts against the tax audit.

He said the audit helped double the tax revenue from sugar factories in the last fiscal year (FY21).

He said he would also submit a response to the National Assembly (NA) on the issue raised by his fellow members of the Sugar Committee. He said that these investigations against the sweets were carried out on merit by competent officers and that there was no political implication.

The article continues after this announcement

Akbar said that a tracking and tracing system will be installed in the sugar factories before the next grinding season to determine their actual production and avoid tax evasion.

Commenting on last year’s fuel crisis, he said that an investigation was also carried out into the shortage of petroleum products last year and that a fine was imposed on the oil marketing companies involved in the shortage. of petroleum products. The adviser said 2,000 illegal petrol stations have been closed, leading to increased sales of Pakistan State Oil (PSO), the state-owned oil marketing company. The federal cabinet has given the FIA ​​open authorization to recover in the case, he said.

Akbar reiterated: “A transparent investigation into the scandal is required for fair accountability. He asserted that the prices of petroleum products are linked to the international market.

Speaking of the Broadsheet Commission of Inquiry led by Judge (ret’d) Azmat Saeed, he said the government had paid Rs 40 billion to Broadsheet. He said that from 2009 to 2018, the government of the day did not fight the case properly. The commission is currently investigating the matter, he added.

The government launched a crackdown against the sugar mills on the price of the commodity.

Last Friday, the Prime Minister ordered action against the millers and hoarders because of the rise in the price of sugar.

Presiding over a review meeting on the selling price and hoarding of sugar, the Prime Minister also ordered the establishment of a system of monitoring and traceability of the mills to know the volume of production of the commodity. “The government will take strict measures against the profiteers, who are the enemies of the poor masses,” Prime Minister Imran pointed out.

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