ISLAMABAD: Competition Commission of Pakistan Chairman Dr Kabir Ahmed Sidhu has said that the commission has imposed penalties of over Rs74 billion on cartels, but all the cases with significant fines are still pending in court for a final decision.

Addressing businessmen and members of the Islamabad Chamber of Commerce and Industry (ICCI) during an advocacy session on Competition Law, Dr Sidhu called upon the business community to support the CCP’s efforts in policing cartelisation and anti-competitive practices.

“The CCP alone cannot enforce its writ unless it has the support of all stakeholders, including the business community,” he stressed.

The chairman also mentioned several sectors, such as sugar, wheat, poultry, cement, automobile, and telecom, where CCP has imposed substantial fines.

Dr Sidhu emphasised the CCP’s vital role in ensuring free and fair competition across all commercial and economic activities to prevent market abuse and promote good governance.

He also highlighted the significant role of chambers of commerce in whistleblowing to identify cartels.

ICCI President Ahsan Zafar Bakhtawari stressed the importance of providing a level playing field for all business entities and taking strict actions against cartels.

He noted that these measures are crucial not only for facilitating business operations but also for benefiting consumers.

Mr Bakhtawari affirmed the ICCI’s full support for the CCP’s mission, recognising the Commission’s essential role in driving economic growth and protecting businesses and consumers from anti-competitive behaviour.

Published in Dawn, May 31st, 2024