CCP kicks off national road show on competition law
ISLAMABAD The National Road Show on Competition Law being organized by the Competition Commission of Pakistan (CCP) throughout the country, has been kicked off today at a seminar at the Islamabad Chamber of Commerce & Industry (ICCI).
The seminar was attended by Vadiyya Khalil, Chairperson CCP, Atif Ikram Sheikh, President Islamabad Chamber, Members of CCP Mueen Batlay, Shahzad Ansar, Ikram Ul Haque Qureshi, the office bearers and members of ICCI and the business community in large number.
In his welcome address, Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry said that anti-competition approaches always proved unfavourable for the economy and the consumers as they benefited only a few at the cost of majority. He appreciated the role of CCP for promoting healthy competition culture by curbing unhealthy cartels and monopolies and addressing the issues of market manipulations. He said an independent, strong and effective CCP was essential to promote efficiency in the economy and encourage domestic as well as foreign investment. He assured that ICCI would fully support the CCP in its endeavours aimed at creating a level playing field for business entities and better protection of consumers’ interests.
Addressing the seminar, CCP Chairperson said that thanked all participants and said that Competition Act was promulgated in October 2010 was passed by the Parliament, the people’s representatives for the people of Pakistan with the main objective to enhance economic efficiency and create a level playing field. “It is pro Competition, pro-consumer protection, pro-growth and therefore its pro-business,” she said.
Vadiyya Khalil said that the timing of the launch of our Road Show is also important as over 100 competition agencies around the world will be observing World Competition Day on 5th December by organizing events to highlight the importance of competition in the economic progress of their respective countries. She said that competition policy is about creating the best possible conditions for consumers, investors and innovative entrepreneurs and she urged the need to work hard towards more efficient and prosperous Pakistan.
Ikram Ul Haque Qureshi, Member CCP in his presentation gave an overview of the competition regime in Pakistan and explained the substantive provisions of the Competition Act, 2010. He said that the anti-competitive practices such as the abuse of dominance and cartelization not only harmed the consumers, but also inflicted huge financial losses to the national exchequer.
Shahzad Ansar, Member CCP in his presentation on the Office of Fair Trade (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.
During the questions and answers session, the participants raised important issues concerning competition and their questions were answered by the Commission’s Members.