Islamabad: Hearing the Sugar Cartelisation case, the Sindh High Court (SHC) has asked the Pakistan Sugar Mills Association (PSMA) and the 26 other sugar mills to deposit 50% of the penalties imposed on them by the Competition Commission of Pakistan (CCP).
The inquiry conducted by the CCP in 2021 found that the PSMA and its members have violated sections 4(1), 4(2), and 4(2) (c) of the Competition Act, 2010.
The commission had imposed a penalty amounting to Rs 44 billion, (approx above $ 265 million) and was based on the calculation of turnover figures of 55 mills.
The CCP’s decision was challenged in the Sindh High Court by PSMA and other sugar mills in different cases. The CCP had requested the SHC that they can be granted interim relief provided they deposit respective penalties imposed upon them.
The SHC on June 13 granted the interim relief to the Sugar Mills Association and other sugar mills on the condition that they deposit 50% of the penalties imposed upon them.