Competition Commission of Pakistan withdraws notice to Pharma Bureau

Published August 22, 2019
CCP bench reiterated that the commission remains vigilant against all forms of collusion and cartelisation.
CCP bench reiterated that the commission remains vigilant against all forms of collusion and cartelisation.

ISLAMABAD: While setting aside its show-cause notice to Pharma Bureau (PB) for alleged cartelisation, the Competition Commission of Pakistan (CCP) has warned that the pharmaceutical sector is under its watch and any collusive or anti-competitive activity will be strictly dealt with.

A bench of the CCP bench on Wednesday set aside the findings of its inquiry in the matter of alleged violation of Section 4 of the Competition Act 2010 by the PB, which is an association and representative body of over 20 multinational pharmaceutical companies (MNCs). However, during the hearings the CCP team could not substantiate the allegations.

In 2016, the commission took a suo motu notice and conducted an inquiry into allegations published in national press that a number of pharma companies have increased prices of a range of medicines up to 300pc at the behest of the Pharma Bureau.

The CCP order stated that Pharma Bureau cannot be held to have violated Section 4 of the act by taking any decision which has the object or effect of preventing, restricting or reducing competition within the relevant market.

The order also stated that the importance of undertakings and associations remaining vigilant as to the threat of potential collusion and other anti-competitive practices.

CCP bench reiterated that the commission remains vigilant against all forms of collusion and cartelisation that may take place in any market, including the pharmaceutical sector.

Published in Dawn, August 22nd, 2019

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.
Ceasefire, finally
Updated 26 Mar, 2024

Ceasefire, finally

Palestinian lives matter, and a generation of orphaned Gazan children will be looking to the world community to secure justice for them.
Afghan return
26 Mar, 2024

Afghan return

FOLLOWING a controversial first repatriation phase involving ‘illegal’ Afghan refugees last November, the...
Planes and plans
26 Mar, 2024

Planes and plans

FOR the past many years, PIA has been getting little by way of good press, mostly on account of internal...