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اردو

Apr 08, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Print Print 2024-07-21

Price fixing tactics: Competition Appellate Tribunal affirms penalty on paints co

Recorder Report Published July 21, 2024

ISLAMABAD: The Competition Appellate Tribunal has upheld the decision of the Competition Commission of Pakistan (CCP) against M/s Reliance Paints Pakistan for fixing the retail prices of its products, in violation of Section 4 of the Competition Act, 2010.

Deceptive marketing practices: CAT upholds CCP’s findings in plea filed by RB

The CCP initiated an inquiry after receiving a formal complaint from Akzo Nobel Pakistan Ltd, which alleged that Reliance Paint was fixing the minimum resale price for its products and also monitoring and penalizing dealers/distributors/retailers for non-compliance with its price directives. It said that these practices were restricting competition not only between the dealers and retailers but also between Reliance and its competitors.

CCP Competition Appellate Tribunal M/s Reliance Paints Pakistan

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Currency	Rate
USD PKR Interbank Selling / Apr 7	280.62
USD PKR Interbank Buying / Apr 7	280.42
USD to Japanese Yen / Apr 7	145.32
USD to Swiss Franc / Apr 7	0.85
Pound Sterling to USD / Apr 7	1.29
Euro to USD / Apr 7	1.10
UK LIBOR % / Apr 4	4.96

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S&P 500 / Apr 4	5,074.08
Nasdaq / Apr 4	15,587.79
Dow Jones / Apr 4	38,314.86
India Sensex / Apr 7	72,018.84
Tokyo Nikkei / Apr 7	31,136.58
Hang Seng / Apr 7	20,005.29
FTSE 100 / Apr 7	7,586.79
Germany DAX 30 / Apr 7	19,447.47
France CAC40 / Apr 7	6,887.60

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Karachi Cotton PKR/37.32 KG / Apr 4	17,085
Gold 10 Grams PKR / Apr 4	284,298.40
Crude Oil USD/Barrel / Apr 7	59.67
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