The State Minister for Finance and Revenue, Mr. Ali Pervaiz Malik, visited the Competition Commission of Pakistan (CCP), underscoring the role of the Commission in checking market failure and protecting consumers from anti-competitive practices. During his visit, Mr. Malik conveyed the Ministry’s commitment to bolstering CCP's capacity to increase its effectiveness, whether through legislative reforms, follow-up on court cases or capacity-building initiatives. Addressing CCP’s officials on Wednesday, he emphasized the need for a comprehensive review of the Competition Act to ensure it remains modern, effective, and relevant as well as to address the challenges being faced by the Commission. “Competitiveness in markets is vital for protecting consumer interests. It also encourages new startups and attracts investments,” said Mr. Malik.

CCP Chairman, Dr. Kabir Ahmed Sidhu, briefed the Minister on Commission's role, including its functions, performance, and ongoing inquiries in important sectors of the economy. Dr. Sidhu highlighted the challenges faced by CCP, including legal obstacles. Minister Malik pledged his full support to CCP in overcoming its challenges. He requested a detailed list of pending court cases and stay orders, to take up with the Attorney General and Law Ministry for expeditious resolution. The Minister urged Dr. Sidhu to maintain close coordination with the Finance Ministry to ensure effective vigilance of consumer interests. The meeting was attended by CCP Members Mr. Saeed Ahmed, Mr. Salman Amin, Mr. Abdul Rashid Sheikh, Ms. Bushra Naz, and Directors Generals.

Credit: Independent News Pakistan