Jahangir Tareen submitted his detailed reply regarding the FIA summons
Jahangir Tareen has submitted his detailed reply regarding the FIA summons. The holder was not affected so this inquiry is unwarranted, the ongoing inquiry against me should be closed immediately.
Along with the detailed response, documents based on 11 volumes were also handed over to the FIA’s Joint Investigation Team. In the last three years, JDW has disbursed more than Rs. 81 billion to sugarcane growers in a transparent manner.
Jahangir Tareen wrote that JDW Sugar Mills ensures purchase of sugarcane from farmers at subsidized price and does not allow any delay in payment to the farmer, at every stage before and during the investment in Farooqi Pulp. The opinion of technical and economic experts was obtained, but we had to shut down the plant due to some problems with electricity and steam.
Jahangir Tareen wrote that it is not uncommon for large-scale companies to withdraw cash for daily expenses. The 3-year revenue of JDW Sugar Mills is about Rs 2,000 billion. It is unreasonable to question the legitimacy of cash transactions of Rs 2.2 billion, which is not even 1% of JDW’s 3-year revenue.
Jahangir Tareen submitted his detailed reply regarding the FIA summons