CCP imposed penalties of Rs 26b in eight years
KARACHI: The Competition Commission of Pakistan (CCP) has imposed total penalties of over Rs 26 billion on different undertakings for various violations of the Competition Law since 2007, aimed to protect consumers from anti-competitive practices and restore and ensure free competition in the country’s economy.
This was stated by CCP Cartels and Trade Abuses and Legal member Ikramul Haque Qureshi while addressing a seminar at the Sargodha Chamber of Commerce & Industry (SCCI), jointly organised by CCP and SCCI as part of the National Road Show on Competition Law. The seminar was also addressed by Office of Fair Trade (OFT) and Advocacy member Shahzad Ansar, SCCI President Mukhtar Mirza, SCCI Senior Vice President Muhammad Shakir Naveed, Vice President Amjad Javed and CCP Advocacy Director Asfandyar Khattak.
Ikramul Haque Qureshi briefed the participants about the competition regime in Pakistan and explained the substantive provisions of the Competition Act, 2010. He said that the purpose of the Competition Act is to ensure free competition in all spheres of commercial and economic activity and CCP is authorised to take action against anti-competitive activities such as abuse of dominance, prohibited agreements and deceptive marketing. “The purpose of imposing these restrictions is to ensure free competition among firms,” he said. He further said that anti-competitive activities not only distort competition in the market, it also harm consumers’ interests and inflict losses to the national economy.
Shahzad Ansar, in his presentation on OFT, said that the Competition Act protects the consumer from deceptive marketing practices adding that the Competition Act forbids false and deceptive claims having no reasonable basis and the fraudulent use of the trademarks of other undertakings. He said that deceptive marketing practices not only harmed the end consumers but also the businesses that lose their genuine market share due to fake advertising by others.