ISLAMABAD
\nThe Competition Appellate Tribunal has dismissed ten long-pending appeals filed by several banks and the Pakistan Banks Association, upholding the Competition Commission of Pakistan\u2019s order imposing collective penalties of approximately PKR 205 million for cartel-like conduct. The appeals challenged the CCP\u2019s April 2008 order as well CCP\u2019s Appellate Bench\u2019s Order dated 10-06-2009, which found the PBA and seven major banks guilty of collusive practices in introducing an ESA. The Commission had concluded that the coordinated move distorted competition and created unfair conditions for small bank depositors, in violation of Section 4 of the Competition Ordinance, 2007.
\nThe CCP had imposed a penalty of PKR 30 million on the PBA and PKR 25 million each on Habib Bank Limited, Allied Bank Limited, MCB Bank Limited, United Bank Limited, Saudi Pak Bank Limited, Atlas Bank Limited, and National Bank Limited.
\nAfter hearing extensive arguments, the Tribunal dismissed all appeals through a short order, thereby affirming the penalties. Detailed reasons are expected to be issued later.
\nThe ruling marks a significant milestone for the CCP, as the ESA case was the Commission\u2019s first major enforcement action following its inception. The outcome reflects the CCP\u2019s sustained and effective follow-up of long-pending litigation amid intensified legal reforms. Through focused reforms and proactive litigation management, the Commission has resolved over 70 percent of its pending court cases.
\nCommenting on the development, Dr Kabir Ahmed Sidhu said the verdict reinforces the principle that justice may be delayed but cannot be avoided, adding that no entity can indefinitely escape accountability for anti-competitive conduct.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Competition Appellate Tribunal has dismissed ten long-pending appeals filed by several banks and the Pakistan Banks Association, upholding the Competition Commission of Pakistan\u2019s order imposing collective penalties of approximately PKR 205 million for cartel-like conduct. The appeals challenged the CCP\u2019s April 2008 order as well CCP\u2019s Appellate Bench\u2019s Order dated 10-06-2009, which found […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-526893","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n