Islamabad, December 3, 2024 – The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has instructed the Competition Commission of Pakistan (CCP) to expedite its investigations into cartelization and collusive practices, emphasizing the government’s unwavering commitment to fostering competition and disciplining markets.
During a visit to the CCP headquarters, Senator Aurangzeb received a comprehensive briefing on the Commission’s performance from its Chairman, Dr. Kabir Ahmed Sidhu. The meeting, attended by CCP members Saeed Nawaz, Salman Amin, and Abdul Rashid Sheikh, along with senior management, covered ongoing inquiries, significant court cases, and new initiatives to enhance the CCP’s operational capacity.
The minister praised the CCP’s efforts but urged the adoption of advanced tools like data analytics and chatbots to detect anti-competitive behaviors. He assured the Commission of budgetary support to modernize its operations and align its practices with international standards.
“The government is resolute in eliminating illegal market practices. The CCP has our full backing, and while we expect inquiries to proceed swiftly, adherence to due process and avoidance of harassment remain paramount,” Senator Aurangzeb stated.
Dr. Sidhu highlighted the Commission’s achievements over the past year, including the recovery of PKR 100 million in penalties and the resolution of 73 court cases. He also acknowledged a backlog of 567 cases, with penalties amounting to PKR 74 million. Pending cases include 200 in the Supreme Court, 179 in the Competition Appellate Tribunal (CAT), and 146 in high courts.
A significant development discussed was the creation of a Market Intelligence Unit (MIU), which has already identified over 150 instances of anti-competitive practices through advanced data analysis techniques. Dr. Sidhu also presented research reports on market competitiveness in critical sectors such as insurance, aviation, road construction, and power, earning commendation from the minister.
Senator Aurangzeb pledged to approach the Chief Justice of Pakistan and the Federal Minister for Law and Justice to expedite competition-related cases and ensure timely appointments to the CAT. He also advised the CCP to engage top legal professionals and establish service agreements with agencies like the FIA to enhance evidence collection.
“The CCP’s progress is commendable, but continuous improvement is essential to achieve its mission of promoting fair competition,” the minister concluded.