CCP im­poses Rs 26 bil­lion penal­ties on vi­o­la­tion of com­pe­ti­tion Act

The Pak Banker - - NATIONAL -

Chair­per­son Com­pe­ti­tion Com­mis­sion of Pak­istan (CCP), Vadiyya Khalil Fri­day said that CCP had im­posed over Rs 26 bil­lion penal­ties on var­i­ous un­der­tak­ings for dif­fer­ent vi­o­la­tions of the Com­pe­ti­tion Act, 2010.

Briefing Na­tional As­sem­bly Deputy Speaker Mur­taza Javed Ab­basi on the man­date and per­for­mance of CCP in the en­force­ment of Com­pe­ti­tion Law, Vadiyya Khalil said th­ese un­der­tak­ings in­clude com­pa­nies and trade as­so­ci­a­tions from across sec­tors of the econ­omy and were in­volved in anti-com­pet­i­tive prac­tices such as abuse of dom­i­nant po­si­tion, carteliza­tion and de­cep­tive mar­ket­ing prac­tices, thus harm­ing the con­sumer in­ter­est as well as in­flict­ing huge losses to the na­tional econ­omy. Un­der the law, the penal­ties im­posed by CCP have to be de­posited in the Na­tional Ex­che­quer of the Fed­eral Govern­ment. The Com­pe­ti­tion Act is in line with the com­pe­ti­tion laws of over 150 coun­tries that have im­ple­mented the mod­ern com­pe­ti­tion regimes.

Un­der the Com­pe­ti­tion Act, CCP is em­pow­ered to take ac­tion against abuse of dom­i­nant po­si­tion, carteliza­tion, de­cep­tive mar­ket­ing prac­tices and ap­proval of merg­ers of the Act. More­over, CCP has the power to re­view the poli­cies of the Govern­ment of Pak­istan and sug­gest/rec­om­mend changes in the poli­cies where it is re­quired for pro­tect­ing com­pe­ti­tion. Fur­ther­more, CCP has also been em­pow­ered to strike a bal­ance be­tween en­force­ment and ad­vo­cacy through cre­at­ing aware­ness of the law.

She briefed the Deputy Speaker on the re­cent Na­tional Road Show on Com­pe­ti­tion Law held by CCP in 23 cities of the coun­try to cre­ate aware­ness and fa­cil­i­tate the busi­ness com­mu­nity in res­o­lu­tion of com­pe­ti­tion is­sues.

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