Chairperson of Competition Commission of Pakistan (CCP) Dr. Kabir Ahmed Sidhu, emphasized the pivotal role the organization plays in ensuring fair competition across all sectors of economic activity during a recent briefing at the Islamabad Chamber of Commerce and Industry (ICCI). Dr. Sidhu highlighted the CCP's commitment to preventing market abuse and promoting good governance through advocacy and training initiatives aimed at fostering corrective behavior and sustainable compliance within the corporate sector. He stressed the importance of engagement with industry stakeholders, including chambers, academia, and professional bodies, to achieve these objectives. Acknowledging the collaborative efforts between CCP and ICCI, Dr. Sidhu noted that such partnerships would contribute significantly to addressing concerns regarding unfair business practices and fostering a healthy business environment.

He underscored the CCP's track record of imposing heavy penalties on violators of competition laws, with several cases awaiting final decisions in the apex court. President of ICCI, Ahsan Zafar Bakhtawari, echoed the sentiment, emphasizing the necessity of a level playing field for all businesses and stringent actions against cartels. He emphasized CCP's crucial role in fostering a competitive business environment and protecting the interests of both businesses and consumers. Zafar Bakhtawari, Secretary General of the United Business Group, stressed the significance of healthy competition for business advancement, advocating for equal opportunities and privileges for all stakeholders. He particularly emphasized the importance of privatization, deregulation, and fair competition in the energy sector for the country's economic integrity.

Shahzad Hussain, Director General Advocacy, provided insights into CCP's vigilant monitoring of abusive practices such as dominant positions, exploitative behaviors, and cartelization to ensure a free and fair business atmosphere. Salman Amin, Member of Advocacy & Exemptions, expressed optimism about the awareness session's utility for attendees, while Senior Vice President of ICCI, Faad Waheed, highlighted CCP's powers of suo moto action and urged proactive measures to curb corrupt practices. The ceremony, expertly conducted by Mian Ramzan, Convener Tax Committee ICCI, witnessed the participation of industry stalwarts, including Yousuf Rajput, Raja Hassan Akhtar, Malik Shabbir, and others.

Credit: Independent News Pakistan