Deputy Prime Minister Ishaq Dar expressed concerns over legal hurdles faced by the Competition Commission of Pakistan (CCP), stating that while the commission has taken decisive actions against various sectors, court-issued stay orders have prevented cases from reaching their conclusion.
Speaking at the foundation stone-laying ceremony of the CCP’s new headquarters in Islamabad’s Mauve Area, he urged regulatory bodies to work collaboratively to accelerate economic growth.
Dar reiterated his optimism about Pakistan’s economic trajectory, saying that if reforms continue at the current pace, the country could achieve G20 membership by 2030. He highlighted that in 2018, Pakistan ranked as the world’s 24th largest economy and was close to joining the G20. He stressed the need to tap into the country’s natural resources, emphasizing that as a nuclear power, Pakistan has the potential to become a developed nation.
The event was attended by Finance Minister Muhammad Aurangzeb, Law Minister Azam Nazeer Tarar, State Minister for Finance Ali Pervaiz Malik, and other senior officials. Aurangzeb noted that macroeconomic stability had been achieved and that structural reforms were underway. Malik highlighted the CCP’s crucial role in fostering fair competition and improving market efficiency.
CCP Chairman Dr. Kabir Ahmed Sidhu outlined recent steps taken by the commission, including the restructuring of its legal department to effectively contest cases in courts.
He announced the establishment of a Market Intelligence Unit to detect cartelization and anti-competitive practices.
Since its inception, the CCP has investigated collusion, prevented abuse of dominance, and curbed deceptive marketing.
In 2024 alone, it imposed Rs275 million in penalties, recovered Rs100 million, resolved 73 court cases, and issued 32 show-cause notices across various sectors, including fertilizers, real estate, education, public procurement, and pharmaceuticals.
