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Future sales have nothing to do with satta, stop the smear campaign: Jahangir Tareen

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The head of the PTI, Jahangir Tareen. File photo

PTI chief Jahangir Tareen called his critics on Twitter on Monday, saying future sales were “an integral part” of business activity around the world.

Earlier this week, it was reported that FIA Lahore had registered a case of suspected fraud of Rs 3.14 billion against Jahangir Tareen and his son, Ali Tareen.

The First Information Report (FIR) recorded in this regard indicates that Jahangir allegedly transferred illegal shares worth several billion rupees to Farooqi Pulp Mills Limited (FPML), which is owned by his son and relatives.

Speaking to Twitter, the former PTI general secretary posted screenshots of London Sugar Future’s sales figures to explain his point.

“Future sales are an integral part of doing business anywhere in the world. They are used to secure future cash flows for normal business activity. It has nothing to do with Satta. All of these sales are reported in JDW accounts in their entirety. “

Without naming anyone, he concluded the tweet by writing: “Stop the smear campaign.”

The share transfers, according to the FIR filed against the PTI leader, particularly after 2011-12, were “blatantly fraudulent investments that ultimately resulted in personal gain” for Jahangir’s family. Some 3 billion rupees were invested and laundered in the same factory.

2020 sugar crisis and its investigation report

Prime Minister Imran Khan last year tasked the FIA ​​with investigating the sugar crisis across the country and finding out who benefited from it.

An FIA report released last year claimed that key PTI members were among those who had profited from the recent sugar crisis in the country.

Among those named in the FIA ​​report were Jahangir Tareen and a brother of the then Minister of National Food Security, Khusro Bakhtiar.

According to the report, Tareen profited the most from the sugar crisis, followed by Bakhtiar’s brother.

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