The chairman of the Competition Commission of Pakistan (CCP), Dr. Kabir Ahmed Sidhu, informed Finance Minister Dr. Shamshad Akhtar that the dysfunctional Competition Appellate Tribunal is unable to make decisions against automobiles. sugar, poultry, and cement industries.
The CCP Chairman met with Dr. Shamshad Akhtar, the Federal Minister for Finance, Revenue, and Economic Affairs, at the Finance Division on Monday. The Minister was briefed by Chairman Sidhu on the CCP’s performance thus far. He gave a summary of the CCP’s strategic goal, paying particular attention to how to stop cartels from cooperating, market abuse, manipulation, and advocacy. He also informed the Minister of how unpaid fines were being handled by the courts.
The Chairman notified the Minister that the Competition Appellate Tribunal has been dysfunctional since July 14, 2023, as a result of the Chairman of the Appellate Tribunal’s term expiring. The tribunal cannot decide since there is not a quorum present. As a result, hundreds of cases against sugar, car, poultry, and cement companies are still pending. The cartels will only profit from a lack of enforcement, which will raise costs for consumers nationwide and increase inflation.
The CCP’s policy suggestions for eliminating market distortions and fostering efficiency along the value chain of vital food commodities were also discussed with the Minister by Chairman Sidhu.
Dr. Shamshad Akhtar guaranteed CCP of the Ministry’s complete assistance. She asserted that the Pakistani government is still committed to promoting fair competition and level playing fields for companies operating in all industries. The minister reaffirmed the GoP’s commitment to establishing fair business conditions and encouraging healthy competition in all spheres of the economy.
Source: Business Recorder
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