ISLAMABAD: The Competition Appellate Tribunal (CAT) has dismissed ten long-pending appeals filed by several banks and the Pakistan Banks Association, upholding the Competition Commission of Pakistan’s order imposing collective penalties of approximately Rs 205 million for cartel-like conduct.
The appeals challenged the CCP’s April 2008 order as well CCP’s Appellate Bench’s Order dated 10-06-2009, which found the PBA and seven major banks guilty of collusive practices in introducing an Enhanced Savings Account (ESA).
The Commission had concluded that the coordinated move distorted competition and created unfair conditions for small bank depositors, in violation of Section 4 of the Competition Ordinance, 2007.
The CCP had imposed a penalty of Rs 30 million on the PBA and Rs 25 million each on bank.
After hearing extensive arguments, the Tribunal dismissed all appeals through a short order, thereby affirming the penalties. Detailed reasons are expected to be issued later.
The ruling marks a significant milestone for the CCP, as the ESA case was the Commission’s first major enforcement action following its inception. The outcome reflects the CCP’s sustained and effective follow-up of long-pending litigation amid intensified legal reforms. Through focused reforms and proactive litigation management, the Commission has resolved over 70 percent of its pending court cases.
Commenting on the development, Dr Kabir Ahmed Sidhu said the verdict reinforces the principle that justice may be delayed but cannot be avoided, adding that no entity can indefinitely escape accountability for anti-competitive conduct.
Copyright Business Recorder, 2026
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