BJP seeks parliamentary probe in commodity exchange ’scam’

THIRUVANANTHAPURAM - Bharatiya Janata Party president Nitin Gadkari Friday demanded the immediate appointment of a joint parliamentary committee (JPC) probe into the “manipulative turnover” of Rs.4.5 lakh crore (Rs.4.5 trillion) of essential goods at the commodity exchange last year.

Addressing reporters here on his first visit to the state, Gadkari also demanded the permanent removal of the essential commodities from the forward trading list of the commodity exchanges.

“This is because of the flawed economic policies of the Manmohan Singh government and this is one of the biggest corrupt activity which benefits only multinationals, black marketers, agents and even politicians. Neither the farmer nor the consumer benefits,” Gadkari said.

He added that against the turnover of Rs.4.5 lakh crore, the actual delivery of the essential commodities at the exchanges is less than one percent.

“The speculative, manipulative transaction in the exchanges created artificial volume of wheat, sugar, chana, jeera and potato, and these transactions were to create an artificial volume to push the prices of these commodities up in the market,” Gadkari claimed.

He also demanded that the JPC should inquire as to why 49 lakh tonnes of sugar was exported in 2008-09 at Rs.12.50 per kg and is now imported at Rs.40 per kg.

“(Agriculture Minister) Sharad Pawar appears to be interested in only following cricket. It is best that he be made the minister for cricket because the poor man is suffering and this happens every time there is a Congress government in the centre,” Gadkari said.