ISLAMABAD
\nThe Competition Commission of Pakistan (CCP) has achieved a historic milestone by recovering over PKR 1 billion through enforcement actions against cartels and deceptive practices, a performance that won praise from the Sub-Committee of the Public Accounts Committee (PAC).
\nThe committee, chaired by MNA Shahida Begum and attended by others, received a detailed briefing from CCP Chairman Dr. Kabir Ahmed Sidhu on the regulator\u2019s recent achievements.
\nDr. Sidhu informed the committee that the CCP had resolved more than 50% of its pending court cases, reducing the backlog from 567 to 280.
\nHe noted that this was the highest number of judicial disposals in a single year, with 224 cases decided across different forums, resulting in recoveries worth PKR 1 billion.
\nHe stated that the Commission since its inception has recovered penalties of worth PKR 200 million only.
\nHowever, since August 2023, the CCP has recovered approximately 1 billion rupees in recoveries.
\nHe informed that the Commission as part of its efforts to curb cartelization, has issued 14 enforcement orders against cartels, imposing penalties of over PKR 1 billion, while completing 20 inquiries on cartelization and dominance abuse and 18 on deceptive marketing. The Market Intelligence Unit identified 200 potential cases of anti-competitive practices, further strengthening CCP\u2019s enforcement.
\nHe further informed the committee that the Commission has recently established a dedicated Market Intelligence Unit (MIU), which has already detected more than 190 potential cases of anti-competitive practices. In addition, the Commission has set up a Centre of Excellence on Competition Law to promote research, capacity building, and policy development in this field. In addition, the Commission approved 117 mergers and acquisitions, bringing in PKR 29 billion in foreign direct investment (FDI).
\nThe Sub-Committee appreciated the CCP\u2019s performance and assured full support for its mandate, terming its efforts vital for consumer protection, transparency, and sustainable economic growth in Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Competition Commission of Pakistan (CCP) has achieved a historic milestone by recovering over PKR 1 billion through enforcement actions against cartels and deceptive practices, a performance that won praise from the Sub-Committee of the Public Accounts Committee (PAC). The committee, chaired by MNA Shahida Begum and attended by others, received a detailed briefing […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-501715","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n