Federal Minister for Finance Muhammad Aurangzeb expressed satisfaction over the performance of the Competition Commission of Pakistan (CCP), saying the commission’s had brought significant improvements, particularly in reducing the number of pending court cases.
Addressing the Senate, the finance minister requested the chairman Senate Standing Committee on Finance and Revenue, to invite Dr Kabir Sidhu, Chairman CCP, for a detailed briefing to appreciate the true extant of reforms undertaken by the commission.
He informed the house that over the past two years, the CCP’s new management actively pursued litigation in various courts, which resulted in reducing the backlog of cases from 577 to approximately 300.
Responding to a motion moved by Senator Mohsin Aziz, the minister emphasised that a transparent and robust regulatory framework is essential in a market-based economy to foster competition and ensure accountability. In this context, he highlighted CCP’s recent performance as crucial and deserving of support.
He shared that the CCP issued 11 major orders in the past year alone, imposing fines exceeding Rs1 billion. Of this amount, approximately Rs120 million has already been recovered.
The inquiry process has been expedited, the issuance of show-cause notices has become more efficient, and the overall hearing mechanism has improved to ensure timely action against violators.
The minister further stated that CCP’s Cartels Department completed 20 inquiries during the current fiscal year, while the Office of Fair Trade finalised 13 investigations related to misleading advertisements and deceptive marketing. These investigations have led to the issuance of show-cause notices and the initiation of formal hearings, he said.
He also informed the Senate about the establishment of a dedicated Market Intelligence Unit within the CCP, which proactively monitors market distortions, price manipulation, and other potential violations of competition law.
The minister said that the unit has so far identified 170 potential violations across sectors such as banking, e-commerce, telecom, and real estate, with 28 inquiries already initiated.
CCP tells Aurangzeb: 23 major actions taken against cartels and cos
Highlighting the CCP’s role in facilitating investment, he said that the commission Mergers Department approved 69 transactions during the current year, resulting completion of transactions worth $30 million in foreign direct investment (FDI). Moreover, the Exemptions Department granted 83 exemptions, helping to ease business operations.
He added that a Centre of Excellence has also been established within the Commission to conduct research and data-driven analysis of various market sectors.
