Sugar crisis: Finance minister Aurangzeb, CCP chairman Sidhu discuss ways to stabilise market

Competition Commission of Pakistan (CCP) chairman Kabir Ahmed Sidhu briefed Finance Minister Muhammad Aurangzeb regarding the challenges in promoting competition in the sugar sector and causes of the recent sugar crisis, a CCP statement said.

Sidhu informed the finance minister that the CCP was preparing detailed recommendations to assist the Sugar Sector Reform Committee.

He also apprised the minister of the causes of previous sugar crises in 2008-09, 2015-16, and 2019-20, and shared the commission’s findings and enforcement actions against cartelisation in the sector, the statement read.

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“The finance minister was informed that the CCP’s 2021 order against the sugar cartel had been remanded by the Competition Appellate Tribunal to CCP for a rehearing, and that the commission has formulated a comprehensive strategy for its expeditious disposal.”

Meanwhile, according to the CCP statement, Aurangzeb assured full government support to the CCP for expediting court proceedings of pending cases and enhancing the institution’s operational capacity.

“He [finance minister] reaffirmed that a robust competition framework is essential for protecting consumer interests, ensuring market transparency, and sustaining economic growth.”

The meeting also reviewed pending litigation, examined administrative and regulatory measures to stabilise the sugar market, and discussed proposals to strengthen CCP’s institutional capacity to promote economic efficiency, protect consumers, and ensure a transparent, competitive business environment.