SEC reveals sugar mills' shareholder information to National Assembly's subcommittee

The Securities and Exchange Commission of Pakistan (SECP) has presented details of sugar mills and their shareholders to a subcommittee of the National Assembly's Commerce Committee. The submission, made during a meeting on September 2, was in response to the subcommittee's demand for complete records of shareholders from 81 companies.

The SECP's disclosure could potentially reveal conflicts of interest or undue influence in the sugar industry. The subcommittee is investigating the involvement of political and business personalities in the industry, which is currently under scrutiny due to the recent sugar price hikes.

Among the names listed in the SECP's submission are some of Pakistan's leading political and business figures. Khawaja Abdul Ghani Majeed holds 100% of the shares in Tando Allahyar Sugar Mills. PML-N leader Hamza Shahbaz Sharif and Nusrat Shahbaz are among the shareholders of Al-Arabia Sugar Mills. PML-Q's Chaudhry Shujaat Hussain is among the stakeholders of Punjab Sugar Mills.

In the sugar industry of Rahim Yar Khan, Mian Amer Mahmood is a shareholder. Baloch Sugar Mills lists Dost Ali Mazari and Tariq Ali Mazari as shareholders. Ashraf Sugar Mills has former Pakistan Cricket Board chairman Zaka Ashraf and others as shareholders.

The records also identify shareholders in Chaudhry Sugar Mills, including Abdul Aziz Abbas Sharif, Abdullah Yousuf Sharif, and the Sharif Trust. Cheema Sugar Mills shows ownership stakes held by Chaudhry Anwar Ali, Sardar Muhammad Arif Nakai, and Muhammad Shafi, among others.

In Ittehad Sugar Mills, Makhdoom Hashim Jawan Bakht and Makhdoom Omar Shehryar are shareholders. RYK Mills has PTI's Moonis Elahi and Makhdoom Omar Shehryar as shareholders. Madina Sugar Mills includes Muhammad Rashid and Muhammad Mujtaba as shareholders.

Interestingly, there is no publicly available information confirming that any political or economic personalities own shares in Chaudhry Sugar Mills. Hamza, Salman Hamza Sharif, and Nusrat are listed as shareholders of Ramzan Sugar Mills.

The investigation into the sugar industry is part of a broader probe into the causes of sugar price hikes. The findings from this investigation are expected to shed light on the industry's inner workings and potentially lead to measures aimed at ensuring transparency and fair practices.