The CCP authorised its officers to the ‘Enter and Search’ PSMA premises under Section 34 of the Competition Act, 2010 following indications of PSMA’s anti-competitive activities including, but not limited to, the collective stoppage of crushing in season 2019-20, collective rise in prices of sugar, and collective refusal to supply sugar to Utility Store Corporation (USC) as recently reported, said a press release issued here on Monday.
Two different teams, authorised by the commission, simultaneously carried out the search in PSMA’s Islamabad and Lahore premises and impounded the relevant record.
Through its various enforcement orders, the CCP warned industry associations from indulging in activities, which may violate the Competition Act.
The rule of thumb is that the associations are not allowed to discuss, deliberate or share sensitive commercial information that may allow its members, who are competitors, to co-ordinate business policy or discussion on economic aspects.
The CCP, as part of its statutory mandate under the Competition Act, strives to eradicate anti-competitive practices in all sector of the economy.
