Kathmandu – A sub-committee formed by the Public Accounts Committee (PAC) of the Federal Parliament has recommended directing the Finance Minister to scrap the quantitative restrictions on the import of sugar.
The sub-committee formed last week under lawmaker Lekh Raj Bhattta to conduct enquiry into the hike in sugar price has recommended that the Commission for the Investigation of Abuse of Authority (CIAA) should be given the responsibility to look into the irregularities in the price of sugar.
The committee report deemed it necessary to conduct investigation by CIAA citing that there were hands of various people and bodies behind the hike in price of sugar.
The committee report has recommended removing the complete ban on the import of sugar, open quantitative restrictions in order to stabilize the market price, timely review of the quantitative restrictions based on market demand and customs rate, and devise a strategy to balance supplies.
Likewise, the committee has urged the Ministry of Industry, Commerce and Supplies to make arrangement for clearing all the arrear amount of industrialists and paying due subsidies to the farmers before Dashain festival.
Earlier, some of the ruling party lawmakers drew the attention of Minister for Industry, Commerce and Supplies Matrika Prasad Yadav towards the possible irregularities of Rs 690 million in sugar. Then Minister Yadav had written a letter the parliamentary committee directing to look into the matter.
Massive financial irregularities have been suspected behind the hike in prices of sugar after the government imposed quantitative restrictions on the import of the commodity. The price of sugar has surged exponentially on the eve of Dashain festival when its demands grows.
