In a bid to launch a crackdown on the sugar mafia, the Federal Investigation Agency (FIA) on Thursday served a notice to Makhdoom Shehryar, the brother of the Federal Minister for Economic Affairs Khusro Bakhtiar, for allegedly selling sugar through the practice of satta (price-fixing through collusion).
As per the notice, the agency has also ordered Makhdoom Shehryar to visit its office on April 15, 2021, while he is also asked to show the documents related to the selling of sugar through satta. That aside, Makhdoom will also have to explain the procedure adopted by his mill to book and sell sugar through the process of satta.
Per the notice, the administration and shareholders have been accused of being involved with the satta mafia, adding that the latter is minting illegal money with the help of sugar mill owners.
Commenting on the matter, Minister Khusro Bakhtiar maintained that while he had shares in the company in the past, he does not have them.
Last month, the Commercial Banking Circle of the FIA had arrested seven people allegedly involved with the sugar satta mafia which persistently increased sugar prices by creating an artificial shortage of the commodity.