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Print Print edition: 2023-09-26

Sugar, poultry, auto and cement sectors: Dysfunctional Competition Tribunal unable to take decisions, Shamshad told

Published September 26, 2023 Updated September 26, 2023 08:51am
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ISLAMABAD: Dr Kabir Ahmed Sidhu, Chairman Competition Commission of Pakistan (CCP) Monday conveyed to Finance Minister Dr Shamshad Akhtar that the dysfunctional Competition Appellate Tribunal is unable to take decisions against sugar, automobile, poultry and cement sectors.

The CCP Chairman called upon the Federal Minister for Finance, Revenue & Economic Affairs, Dr Shamshad Akhtar, at the Finance Division on Monday.

Chairman Sidhu briefed the Minister on the CCP’s performance so far. He provided an overview of the CCP’s strategic vision, specially focusing on curbing collusive practices of cartels, market abuse, manipulation, and advocacy. He also apprised the Minister about the status of outstanding penalties within the courts.

CCP says strictly monitoring ongoing sugar situation

The Chairman informed the Minister that the Competition Appellate Tribunal has become dysfunctional since 14 July 2023, due to the expiry of term of chairman Appellate Tribunal. Due to lack of quorum, Tribunal cannot make decisions. This has left hundreds of cases pending against sugar, automobile, poultry and cement undertakings. Lack of enforcement will only benefit the cartels and result in higher prices for consumers across the country which will result in higher inflation.

Chairman Sidhu also briefed the Minister on the CCP’s policy recommendations aimed at addressing market distortions and promoting efficiency within the value chain of essential food commodities.

Dr. Shamshad Akhtar assured of the Ministry’s full support to CCP. She said that the Government of Pakistan remains dedicated to fostering fair competition and a level playing field for businesses across sectors. Minister expressed GoP’s commitment to creating a level playing field for businesses & promoting healthy competition across all sectors of the economy.

Copyright Business Recorder, 2023

inflation auto sector CCP sugar sector Cement sector poultry sector Dr Shamshad Akhtar Dr Kabir Ahmed Sidhu caretaker finance minister Competition Appellate Tribunal

Comments

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Tariq Qurashi Sep 26, 2023 11:48am
Much of Pakistani industry has traditionally been run by illegal cartels; Cement, Sugar, Textiles, Vehicle Assemblers, Poultry-eggs and meat, Flour Mills etc. Over the years, the regulatory environment and unnecessary government approvals and NOC's required have protected what are inefficient and profit gouging practices of these cartels from competition. I am not surprised the Competition Appellate Tribunal is dysfunctional. I am sure all the cartels have made sure it has no teeth. These are the big mafias, so I wish Dr. Shamshad the best of luck, but I doubt she will be able to bring any real competition into this equation.
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MR. NASIR GULZAR Sep 26, 2023 12:37pm
The PM should look into these issues instead of having fun vocations in Paris and London and USA at the cost of poor people money / just wasting the precious foreign exchange of the country..
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MR. NASIR GULZAR Sep 26, 2023 12:37pm
The PM should look into these issues instead of having fun vocations in Paris and London and USA at the cost of poor people money / just wasting the precious foreign exchange of the country..
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KU Sep 26, 2023 12:48pm
Competition Appellate Tribunal's dysfunctional status is a good joke among many of a similar nature in our public organizations. The minister will do well to ascertain the cost of production of these commodities, and if she includes the costs incurred in the process of backward as well as forward integration, much will clear the ambiguous dealings of the industry and wholesale mafia.
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MUHAMMAD Aquib Sep 26, 2023 12:59pm
Why justice is only given to politician ?
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