The Senate Standing Committee on Finance, chaired by Senator Saleem Mandviwalla, convened to review the performance of the Competition Commission of Pakistan (CCP). Dr. Kabir Ahmed Sidhu, Chairman of CCP, briefed the committee on key achievements over the past year.
Dr. Sidhu informed that the number of pending cases in courts had decreased by 50%, from 567 to 280, through active litigation efforts. This resulted in the recovery of PKR 410 million in fines. Additionally, 14 orders were issued against cartels, with penalties exceeding PKR 1 billion.
The committee was also updated on CCP’s investigations, which included 20 inquiries on cartelization and abuse of dominance, and 18 inquiries into deceptive marketing practices. The Market Intelligence Unit of CCP identified 193 potential cases of cartelization and deceptive marketing. Furthermore, the Commission approved 117 mergers and acquisitions, attracting foreign direct investment worth PKR 29 billion.
The committee directed the Law Secretary to work with CCP to expedite hearings for pending cases. Law Secretary Raja Naeem informed the committee that out of 200 cases pending in the Supreme Court, 167 have been consolidated and referred to the constitutional bench, with a hearing expected in September.
Committee members called on CCP to take stricter action against cartelization, particularly in the cement and sugar sectors. The committee expressed full support for the CCP’s enforcement efforts, assuring the Commission of their backing.
