Finance Minister directed swift action on cartels, offers full support to CCP
ISLAMABAD: The Federal Finance and Revenue Minister, Senator Muhammad Aurangzeb, has instructed the Competition Commission of Pakistan (CCP) to accelerate its investigations into cartelization and collusion activities. The Minister assured CCP of the government’s full support and commitment to regulating markets, encouraging best practices, and promoting competition.State Minister for Finance pledges government support to strengthen CCP
Today, the Minister visited the CCP headquarters to receive a detailed update on the Commission’s progress. CCP Chairman, Dr. Kabir Ahmed Sidhu, informed the Minister about the ongoing inquiries, provided insights into significant cases awaiting court decisions, and shared recent efforts to enhance the CCP’s capacity. The briefing was attended by CCP members Mr. Saeed Nawaz, Mr. Salman Amin, and Mr. Abdul Rashid Sheikh, as well as senior management.
Senator Aurangzeb acknowledged the Commission’s efforts but emphasized the need for adopting advanced technologies and data analytics to monitor and detect cartel activities and collusion. He reassured CCP of the government’s unwavering support, including financial provisions to digitize the Commission’s operations and adopt global best practices to strengthen its operations.
“The government is resolute in its commitment to regulating the markets and eliminating illegal practices. The Commission has the full support of the government, and we expect swift completion of ongoing inquiries. However, it is critical that the due process is adhered to, and there is no undue pressure,” the Minister stated.
Dr. Sidhu informed the Minister that there is a backlog of 567 cases, involving fines totaling PKR 74 billion. In the past year, the Commission has made substantial progress, recovering PKR 100 million in penalties and resolving 73 cases in courts. He also outlined the number of pending cases, including approximately 200 in the Supreme Court, 179 in the Competition Appellate Tribunal, and 146 in various high courts.
A significant development was the creation of the Market Intelligence Unit (MIU), which has already identified over 150 instances of anti-competitive practices using advanced data analysis techniques. Dr. Sidhu also highlighted CCP’s research on market competitiveness in sectors such as insurance, aviation, road construction, and power. The Minister praised these reports and urged government departments to use CCP’s findings to drive reforms in these sectors.
Senator Aurangzeb also assured Dr. Kabir Sidhu of his support in requesting the Chief Justice of Pakistan to expedite the resolution of competition-related cases. He also mentioned that he would approach the Federal Minister for Law and Justice to expedite the appointment of the Chairman and members for the Competition Appellate Tribunal (CAT).
The Minister further recommended that the CCP engage top legal professionals for its cases and suggested forming service-level agreements (SLAs) with agencies such as the Federal Investigation Agency (FIA) to ensure the prompt forensic examination of evidence gathered during raids.
“The Competition Commission’s performance has been praiseworthy, but there is always room for enhancement. The goal is to make CCP more effective in its mission to curb market abuse and ensure fair competition,” the Finance Minister concluded.
