Stories Tagged 'Sugar price'
Sugar mill owners that criticised the government’s decision to raise the floor price of sugarcane have stopped crushing the crop, demanding to raise the minimum price of the sugar from Rs70 per kg to Rs90.
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The government has allegedly favoured private sugar producers by imposing quantitative restrictions on its import, promoting a “cartel”, investigation by a parliamentary panel has shown.
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The sub-committee formed by the Public Accounts Committee of the Parliament has advised Bharat Shah, Chairman of the PAC, to recommend Commission for the Investigation of Abuse of Authority (CIAA) to investigate the sugar price hike.
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The Cabinet on Sunday formed a task force to investigate the sudden rise in the price of sugar at the start of the festival season following sharp criticism from lawmakers and the public.
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The government claims that it is powerless in maintaining the sugar price at Rs63 per kg and expressed discontent over the intervention by Parliamentary Public Accounts Committee (PAC).
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Minister for Industry, Commerce and Supplies Matrika Prasad Yadav on Thursday wrote to the Speaker of Federal Parliament Krishna Bahadur Mahara seeking an investigation against the lawmakers who blamed him for misappropriating Rs1.69 billion while imposing the quantitative restriction in sugar import.
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