State Minister for Finance pledges government support to strengthen CCP

ISLAMABAD:  The State Minister for Finance and Revenue, Mr. Ali Pervaiz Malik, visited the Competition Commission of Pakistan (CCP), underscoring the role of the Commission in fostering a level playing field for businesses and protecting consumers from anti-competitive practices.

During his visit, Mr. 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.CCP Approves Acquisition of Claforan Trademarks by Hoechst Pakistan Limited

“Competitiveness in markets is vital for economic development. It not only encourages new startups but also attracts investments,” said Mr. 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.

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.

The meeting was attended by CCP Members Mr. Saeed Ahmed, Mr. Salman Amin, Mr. Abdul Rashid Sheikh, Ms. Bushra Naz, and Directors Generals.