Islamabad, January 21, 2026 – The Competition Appellate Tribunal (CAT) on Wednesday rejected ten long-pending appeals filed by several commercial banks and the Pakistan Banks Association (PBA), upholding penalties totaling around Rs205 million imposed by the Competition Commission of Pakistan (CCP) for cartel-like behavior.
According to an official statement issued by the CCP, the appeals challenged the commission’s original order issued in April 2008, along with a subsequent decision by the CCP’s Appellate Bench dated June 10, 2009. These rulings had declared the PBA and seven major banks guilty of engaging in collusive practices related to the launch of an Enhanced Savings Account (ESA).
The CCP had concluded that the coordinated introduction of the ESA distorted market competition and created unfair conditions for smaller banks and depositors. Such conduct was found to be in violation of Section 4 of the Competition Ordinance, 2007, which prohibits anti-competitive agreements and cartelization.
As part of the enforcement action, the CCP imposed a fine of Rs30 million on the PBA, while penalties of Rs25 million each were levied on Habib Bank Limited, Allied Bank Limited, MCB Bank Limited, United Bank Limited, Saudi Pak Bank Limited, Atlas Bank Limited, and National Bank Limited.
The tribunal, after hearing extensive arguments from all parties, dismissed the appeals through a short order, thereby affirming the penalties. Detailed reasons for the decision are expected to be released later.
The CCP described the verdict as a landmark achievement, noting that the ESA case was its first major enforcement action. CCP Chairman Dr. Kabir Ahmed Sidhu said the ruling underscores that accountability for anti-competitive conduct cannot be avoided indefinitely.