ISLAMABAD: State Minister for Finance and Revenue Ali Pervaiz Malik Wednesday assured the Competition Commission of Pakistan (CCP) that the issue of pending court cases/stay orders would be taken up with the Attorney General for Pakistan.
Ali Pervaiz Malik visited the CCP, underscoring the role of the Commission in fostering a level playing field for businesses and protecting consumers from anti-competitive practices.
Minister Malik expressed his intention to fully support CCP in overcoming its challenges. He requested a detailed inventory of pending court cases and stay orders, with plans to discuss these issues with the Attorney General for Pakistan to expedite resolution. The Minister urged Dr Sidhu to maintain close coordination with the Finance Ministry for continued support.
During his visit, Malik conveyed the Ministry’s commitment to bolstering CCP’s capacity to further increase its effectiveness, whether through legislative reforms, follow-up on cases in court, or capacity-building initiatives. Addressing CCP’s officials on Wednesday, he emphasized the need for a comprehensive review of the Competition Act to ensure it remains modern, effective, and relevant as well as to address the challenges being faced by the Commission.
“Competitiveness in markets is vital for economic development. It not only encourages new startups but also attracts investments,” said Malik.
CCP Chairman, Dr Kabir Ahmed Sidhu, briefed the Minister on Commission’s role, including its functions, performance, and ongoing inquiries in important sectors of the economy. Dr Sidhu highlighted the challenges faced by CCP, including legal obstacles. A case study on collusive practices in the cement industry illustrated how stay orders in courts cause delays in inquiry processes and implementation of CCP orders.
The minister was informed that the Commission has prioritized resolution of legal backlogs and strengthened its enforcement framework. The CCP has overhauled its legal team, reduced reliance on external counsel, and improved efficiency. As a result, 40 cases have been dismissed in favour of the CCP at the Competition Appellate Tribunal, and over Rs100 million has been recovered from businesses engaged in anti-competitive practices.
The CCP established a Market Intelligence Unit to proactively detect cartel activities using modern techniques. The unit has identified 123 instances since its inception.
The meeting was attended by CCP Members Saeed Ahmed, Salman Amin, Abdul Rashid Sheikh, Ms Bushra Naz, and Directors Generals.
Copyright Business Recorder, 2024
Comments
Comments are closed for this article.