A renowned speculator, Shaikh Manzoor alias Haji Hira Samundariwala, has made shocking revelations regarding the sugar mafia and its operations while recording his statement to the FIA.
Sources have revealed that Manzoor confessed to being involved in sugar speculation. Moreover, he has been a part of 4 out of 16 WhatsApp groups where the speculation business is run.
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He stated that he has been part of this nefarious business through WhatsApp groups, and he regrets it.
The speculator told investigators that he used to run a sugar store from 2007 to 2015 and entered the business. He also confirmed to have been trading sugar with Tandliawala Sugar Mills since 2015.
Manzoor said he has bought and sold sugar worth PKR 13.5 billion in five years.
He added, “I have been trading sugar in Faisalabad since 2020. I buy sugar from sugar brokers Mahmood Bhili, Aslam Bhili, Mushtaq Paracha, and Atif Paracha.”
According to details, it has also been revealed that the JDW Group, Hamza Sugar (Tayyab Group), Sawaira Group, Al-Mueez Sugar Mill are also involved in the foul business.
In his statement to the FIA, Manzoor also revealed that all sugar mills book sugar for at least a month. Following this, sugar prices increase by PKR 200 to PKR 250 per sack.
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