ISLAMABAD: An ordinance banning industrial monopolies, cartels and other forms of economic chains and combines is expected to be promulgated within the next few days, informed sources told [agency] here today [June 20]. The object behind the proposed ordinance would be to check formation of industrial chains, concentration of wealth and empire-building in the economy, by a few individuals. It followed ... criticism against the “20 families”, who according to one study, own 60 per cent of all major manufacturing industry in the country, and control even a greater percentage of banking, insurance, shipping and other key sectors of the economy.
The proposed measure would include a comprehensive definition of monopolies, cartels and other economic combines. The definition might include the size of the production of a particular mill, or group of mills under the control of a single company or family. Another criterion applied for this purpose would be the amount of finances involved in the undertaking or undertakings operated by such a family group or a company. It would also be seen what percentage a particular industry or group supplied to the domestic market in relation to the total needs of the country. Any industry having a control over supply of up to 50 per cent might come under the definition of a monopolistic undertaking. — Agency
Published in Dawn, June 21st, 2019