ISLAMABAD: The Market Intelligence Unit (MIU) of the Competition Commission of Pakistan (CCP) has identified over 125 instances of anti-competitive practices, showcasing a major stride in CCP’s efforts to address market manipulation and abuse.
This was revealed by CCP Chairman Dr. Kabir Ahmed Sidhu during a workshop held in observance of *World Competition Day* on December 5. Dr. Sidhu highlighted that the MIU, leveraging advanced data collection and analytical tools, is instrumental in uncovering market abuses across various sectors.
The MIU’s investigations have unveiled notable findings, including 25 cases in financial services, 16 in fast-moving consumer goods (FMCG), and 14 in real estate, among others. Dr. Sidhu emphasized that the MIU’s proactive role is crucial for ensuring fair competition, fostering healthier markets, equitable wealth distribution, and driving innovation. He remarked that addressing anti-competitive behavior at its roots significantly enhances the overall market environment.
Speaking at the workshop, Dr. Sidhu stressed the importance of competition in driving economic growth and development. He discussed the CCP’s initiatives to revise legal and regulatory frameworks in sectors like energy and services, aiming to dismantle entry barriers and protectionist policies impeding competition. He expressed optimism that with continued government support and a bolstered CCP, the commission is poised to more effectively combat market abuse and promote fairness.
The event also featured updates from CCP officials on ongoing inquiries and case studies in sectors such as sugar, automobile, and cement. Officials highlighted the positive outcomes of Foreign Direct Investment (FDI) facilitated by merger clearances, underscoring the CCP’s contribution to creating a more transparent and competitive market.
During an interactive session, journalists raised concerns about the CCP’s challenges in enforcing competition law, particularly the backlog of cases in higher courts. CCP officials detailed their strategies to address these hurdles and expedite legal proceedings.
The workshop concluded with a call for greater collaboration among media, government, and the public to support the CCP’s mandate. Dr. Sidhu reiterated the necessity of unified efforts to promote a competitive, transparent, and equitable market in Pakistan.
This workshop reaffirmed the CCP’s commitment to safeguarding fair competition, marking a significant step towards achieving its long-term goals for market reform and economic stability.
