CCP's Rs74bn fines on cartels largely pending

May 31, 2024 (MLN): The Competition Commission of Pakistan (CCP) has imposed Rs74 billion in penalties on cartels accross different sectors, but several significant cases are currently pending in the apex court awaiting final decisions, according to Chairman CCP Dr. Kabir Ahmed Sidhu.

He called upon the business community yesterday to support the CCP's efforts in policing cartelization and anti-competitive practices and made these remarks.

The Chairman addressed businessmen and members of the Islamabad Chamber of Commerce & Industry (ICCI) during an advocacy session on Competition Law hosted by ICCI.

President ICCI Ahsan Zafar Bakhtawari, ICCI executive committee members, CCP Member Salman Amin and other senior officials also attended the session.

Dr. Kabir Ahmed Sidhu emphasized the CCP's vital role in ensuring free and fair competition across all commercial and economic activities, aiming to prevent market abuse and promote good governance.

He also highlighted the significant role that chambers of commerce play in whistleblowing to identify cartels.

He added that several significant cases are currently pending in the apex court awaiting final decisions.

Ahsan Zafar Bakhtawari, President of the ICCI, while addressing the session, welcomed the Chairman and his team at ICCI.

Ahsan Zafar Bakhtawari stressed the importance of providing a level playing field for all business entities and taking strict actions against cartels.

He noted that these measures are crucial not only for facilitating business operations but also for benefiting consumers.

Ahsan Zafar Bakhtawari affirmed the ICCI's full support for the CCP's mission, recognizing the Commission's essential role in driving economic growth and protecting businesses and consumers from anti-competitive behaviour.

CCP Member Salman Amin underscored the importance of advocacy and training for the corporate sector, stating that the CCP aims to ensure corrective behavior and sustainable compliance through these measures.

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