Steel, glass, and tiles industries: CCP vows to conduct probe into alleged cartelization practices

KARACHI: The Competition Commission of Pakistan (CCP) has pledged to conduct a comprehensive investigation into alleged cartelization practices within the steel, glass, and tiles industries.

Rahat Kaunain Hassan, Chairperson of CCP, made this assurance during a meeting with a delegation from the Association of Builders and Developers of Pakistan (ABAD).

The ABAD delegation, led by Chairman Muhammad Altaf Tai, expressed their concerns about the escalating prices of construction materials and urged the CCP to take decisive action against the cartels operating in the steel, glass, and tiles sectors.

Chairperson Rahat Kaunain emphasized the Commission’s commitment to fostering fair competition and protecting consumer rights. She assured the ABAD delegation that the CCP would thoroughly investigate the alleged cartelization and take appropriate measures in accordance with the relevant laws. To facilitate the investigation, she requested ABAD to cooperate by providing all necessary facts and data related to cartelization practices in the aforementioned industries.

In his discussion with the CCP Chairperson, Chairman Muhammad Altaf Tai demanded strict action against the steel, glass, and tiles industries to dismantle cartels and promote fair competition.

He highlighted the adverse impact of artificially inflated prices on the construction industry and the general public, stating that the rising costs hindered potential investments and disrupted ongoing projects.

Builders and developers faced challenges in completing projects within designated timeframes and budgets due to the exorbitant prices of construction materials.

Tai urged the CCP to intervene decisively to protect the construction industry’s interests and ensure the benefits of affordable prices were passed on to the public.

Copyright Business Recorder, 2023