ISLAMABAD: Dr Joseph Wilson, Chairman, Competition Commission of Pakistan (CCP), has said that CCP is committed to restore investor confidence in the Pakistani markets by removing entry barriers, preventing anti competitive business practices and creating a level playing field for local and foreign investors.
He said this while addressing a seminar, "the Competitive Effects of Vertical Agreements", organized by the American Business Council of Pakistan (ABC) in Karachi on Tuesday.
The seminar was also attended by Saad Amanullah Khan, President ABC, Dr Shehzad Ansar, CCP Member Office of Fair Trading and Advocacy, Aisha Kirmani, Secretary General ABC and Members of ABC in large number.
In his presentation on the topic, "Competitive Effects of Vertical agreements", Dr. Wilson explained to the participants the substantive provisions of the Competition Act, 2010 and said that for an emerging economy, enforcement of competition law plays a pivotal role in encouraging foreign and local investment through ensuring a level playing field for all businesses.
He added that CCP has effectively implemented the Competition Law and taken a number of actions and initiatives in the enforcement and advocacy areas to encourage local and foreign direct investment in the country.
The Chairman further said that CCP has consistently reviewed government policies and where necessary, issued Policy Notes to various government ministries and regulators to uphold the principles of competition.
Similarly, CCP has taken action against a number of associations involved in cartelization, companies engaged in deceptive marketing practices that also include counterfeit use of logos of multinational companies by local firms.
In addition to these enforcement actions, CCP has conducted competition assessments to identify constraints to the development of competitive markets, and advised the government on legal and regulatory changes to open markets to competition.
Discussing the topic, Dr. Wilson defined Vertical Agreements as agreement that are entered into between two or more companies at different levels of production/distribution.
He said that Vertical Agreements between suppliers and distributors which enhance economic efficiency even though they may result in anti-competitive effects can be exempted after applying the rule of reason analysis laid down in Section 9 of the Competition Act.
He informed that CCP has so far granted 382 exemption certificates.
The Chairman informed the participants of the meeting that CCP is going to open its regional office in Karachi in the near future in order to be more accessible to the business community.
Addressing the seminar, Saad Amanullah Khan, President ABC praised CCP's efforts to promote fair competition in the economy saying that CCP's performance is globally recognized. "CCP has achieved a lot in a short span of time and its orders are indeed quoted by Competition Agencies globally," he said.
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