The report of the Competition Commission on the Chinese crisis has come to light. The report of the Competition Commission has made sensational revelations. The report held the sugar owners responsible. The Nexus of Sugar Mills has been going on since 2010. Recommendation for action under Section 30 of the Commission Act.
According to private TV, the report of the Competition Commission on the sugar crisis held the sugar owners responsible. The misrepresentation of the sugar accused regarding sugar reserves was proved. Sugar mills in Punjab continue to control prices by sharing stocks. According to the report, the delay in the start of the crushing season also proved to be a nexus of sugar mills. Sugar mills deliberately delay the start of the crushing season. The Nexus of Sugar Mills has been running since 2010. Sugar mills made concessions by setting arbitrary prices and getting subsidies. As sugar became more expensive, other industries including sweets and beverages suffered.
According to the Competition Commission report, the price of sugar increased by Rs 19 in 2019. Due to export permission, sugar became more expensive in the local market. The production price of sugar in Punjab is Rs. 43 to 78 per kg. The Competition Commission recommended freeing the sugar industry from sanctions. The price of sugar should be fixed on the basis of market demand and supply.
The Competition Commission recommended action against those responsible for the crisis. Section 4 of the Competition Commission was found to be in violation and action should be taken under Section 30 of the Competition Commission Act.
