Islamabad, April 5, 2024 – The Competition Commission of Pakistan (CCP) has announced the launch of a comprehensive study titled “Competition Assessment of Digital Markets and Digital Services in Pakistan.”
In a press statement, CCP outlined that the primary objective of this study is to evaluate the impact of digital markets and services on competition, economic growth, and employment prospects within Pakistan. The findings of the assessment will inform policy recommendations aimed at ensuring regulatory harmonization on a global scale.
At the conclusion of the research study, CCP intends to propose a draft bill specifically tailored to regulate digital markets. Comparable initiatives have been undertaken by other nations such as Russia, the UK, the USA, and India, signifying a global trend towards regulating digital economies.
The transition towards digital markets in Pakistan necessitates proactive policymaking to foster competition. This involves establishing and enforcing transparent regulations to curb anti-competitive practices by major digital platforms and service providers.
The advent of digitalization has not only given rise to new markets but has also reshaped existing ones, fundamentally altering the landscape of competition. The study aims to assess both the opportunities and challenges posed by the digital economy, providing recommendations for pro-competition policies that are tailored to the unique dynamics of these markets.
The dominance of a select few powerful platforms, the pivotal role of data (both personal and organizational), and the utilization of algorithms have raised significant competition concerns. Moreover, the digital economy has introduced innovative practices that may not align with traditional forms of abuse, prompting a reevaluation of appropriate legal remedies.
In pursuit of fostering competition within Pakistan’s digital ecosystem, efforts to enhance consumer data portability, adopt open standards, and facilitate data sharing among competitors are crucial. Such measures not only benefit consumers but also promote a more competitive environment.
CCP’s initiative underscores the importance of adapting regulatory frameworks to keep pace with the evolving digital landscape. By addressing competition concerns and ensuring fair practices within digital markets, Pakistan can harness the full potential of its digital economy for sustainable growth and development.
