CCP, PBS sign MoU for enhanced data sharing

October 21, 2024 (MLN): The Competition Commission of Pakistan (CCP) and the Pakistan Bureau of Statistics (PBS) have signed a Memorandum of Understanding (MoU) to strengthen cooperation and improve data utilization.

The MoU was formalized at the inaugural National Data Fest-2024, held at the Pak China Friendship Centre.

Ahsan Iqbal, Minister for Planning, Development & Special Initiatives, graced the event as the Chief Guest, accompanied by esteemed officials including Lt-Gen Munir Afsar, Chairman NADRA, Awais Manzur Sumra, Secretary Planning, and Naeem Uz Zafar, Chief Statistician. Key representatives from various Federal and Provincial Ministries were also in attendance.

Addressing the event, Ahsan Iqbal stated, "2024 is an important year for Pakistan, where we are defining our future direction."

He highlighted the importance of providing reliable, quality data for informed decision-making and technological advancement.

Iqbal stressed the need for policy continuity and stability to ensure sustainable economic development and keep pace with global progress.

The MoU was signed by Kabir Ahmad Sidhu, Chairman CCP, and Muhammad Sarwar Gondal, Member PBS.

The agreement aims to promote efficient data sharing and in-depth analysis, supporting evidence-based decision-making.

Market data is important for CCP as it helps identify potential collusions, price manipulations, and cartels.

The MoU will enhance CCP’s ability to monitor and analyse market data across sectors, boosting its capacity to detect anti-competitive practices.

In the past, the CCP used to collect evidence using traditional methods such as dawn raids and inquiries from market etc.

However, with the establishment of the Market Intelligence Unit (MIU), the CCP now employs modern detection techniques to proactively monitor abuse of dominant positions, cartelization, deceptive marketing, and mergers.

MIU uses market data to keep surveillance of the various sectors of the economy.

Press Release