FIA books Tareen, his son and Shehbaz’s sons in separate cases

Cases pertain to sugar crises, money laundering; FIR includes provisions of betrayal of trust, fraud and deception

Statesman Report

LAHORE: The Federal Investigation Agency (FIA) booked Pakistan Tehreek-e-Insaf's (PTI) Jahangir Tareen, his son Ali Tareen, and sons of Pakistan Muslim League-Nawaz (PML-N) leader Shehbaz Sharif, Hamza Shahbaz and Suleiman Shehbaz, in separate cases pertaining to the sugar crisis and money laundering.

According to FIA sources, the cases have provisions of betrayal of trust, fraud and deception included in the FIR.

The LHC had, on November 12, declared the notices sent by the Joint Investigation Committee, FIA to the Sharif family's Al-Arabia Sugar Mills and Jahangir Tareen's JDW Sugar Mills null and void.

The two-member LHC bench comprising Justice Shahid Karim and Justice Sajid Mehmood Sethi temporarily accepted the sugar mills' appeals while announcing the reserved verdict.

The court also quashed the notices sent to the sugar mills by the Securities Exchange Commission of Pakistan (SECP).

On October 23, it was reported that an official inquiry report had revealed that the Pakistan Sugar Mills Association – the representative body of the sugar barons, is prima facie a “cartel” that manipulated the recent price hike with active coordination of a senior officer of JDW Sugar Mills Group, owned by Jahangir Khan Tareen.

The Competition Commission of Pakistan (CCP) – the entity responsible for ensuring fair play in the market, concluded a 10-month long inquiry and unearthed that the PSMA was indulged in illegal activities, according to a briefing by the CCP and its official inquiry report.

The findings also showed that the millers managed a decision to influence the PTI government to allow export of 1.1 million tons of sugar that also caused a 48% increase in its prices.

The LHC’s two-member bench had observed in its ruling that the SECP failed to play its role in accordance with the law.

The ruling further maintained that the FIA had the right to conduct an inquiry but the laws under which the inquiry can be conducted have to be ascertained.

The court observed that it will elaborate on the FIA's powers in the detailed order that it will issue.