MTL clarifies its position, calls CCP actions baseless and unlawful

MG News | September 03, 2021 at 05:38 PM GMT+05:00

0:00

September 3, 2021 (MLN): Millat Tractor Limited (MTL) has elucidated company’s position, stating that it has not committed any violation of competition law and therefore the actions of the Competition Commission of Pakistan (CCP) are baseless and unlawful.

For the unversed, CCP officials on Thursday raided and searched the premises of MTL in Lahore and Al-Ghazi Tractors Ltd (AGTL) in Karachi on suspicion of collectively making business decisions.

In a notification to PSX, MTL said “Officials of the Competition Commission of Pakistan (CCP) visited the Company's factory premises on 02-09-2021 and obtained various documents/information relating to the Company's business operations in connection with certain alleged violations of the Competition Act, 2010. It is the Company's position that the actions of CCP are baseless and unlawful and that it has not committed any violation of competition law. The Company intends to challenge those actions and defend itself fully against all allegations."

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	138,597.36 256.32M	-0.05% -68.14
ALLSHR	85,286.16 608.38M	-0.48% -413.35
KSE30	42,340.81 77.13M	-0.03% -12.33
KMI30	193,554.51 76.19M	-0.83% -1627.52
KMIALLSHR	55,946.05 305.11M	-0.79% -443.10
BKTi	38,197.97 16.53M	-0.59% -225.01
OGTi	27,457.35 6.73M	-0.94% -260.91

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,670.00	121,165.00 117,035.00	-1620.00 -1.36%
BRENT CRUDE	69.23	70.77 69.14	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	96.50	0.00 0.00	2.20 2.33%
ROTTERDAM COAL MONTHLY	104.50	104.50 104.50	-0.30 -0.29%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.03	67.54 65.93	-0.20 -0.30%
SUGAR #11 WORLD	16.79	17.02 16.71	0.05 0.30%