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