CCP highlights challenges in promoting market integrity on ‘World Competition Day’

KARACHI: The Competition Commission of Pakistan (CCP) marked World Competition Day with a media workshop aimed at fostering awareness among journalists about the significance of competition in the economy. The event brought together senior journalists from both print and electronic media.

Chairperson of the CCP Dr Kabir Sidhu highlighted the critical role of competition in promoting a fair and level playing field across various sectors of Pakistan’s economy. He pointed to the importance of curbing market abuse and manipulation, which he described as leading to concentrated wealth in the hands of a few. “Healthy competition leads to more equitable wealth distribution,” he noted.

Dr Sidhu explained that the CCP’s role extends to advising the government on policies that help steer the economy in the right direction. “The only sources of revenue are exports, taxes and remittances. If businesses cannot compete domestically, how can they compete internationally?” he asked. He further added that competition fosters innovation, efficiency, and the development of better products and services, which in turn boosts export potential. The CCP is currently focusing on reviewing legal and regulatory frameworks, particularly in the energy and services sectors, to eliminate entry barriers and protectionist policies.

Drawing from global examples, Dr Sidhu referred to market developments in the UK and the US, explaining that such transformations took time. “Pakistan is at a developmental stage, and implementing effective competition policies will require patience and effort,” he said. He also called for the support of the constitutional bench to expedite legal processes, ensuring quicker resolution of competition-related matters.

The chairperson underscored the importance of collaboration between the media, government, and people in fulfilling the CCP’s mandate to combat anti-competitive conduct. He acknowledged that Pakistan’s competition landscape is evolving, and emphasised that continued support from all stakeholders is vital for nurturing a healthy competitive environment.

CCP officials also provided a detailed briefing on ongoing investigations, offering case studies from sectors such as sugar, automobiles and cement. They highlighted progress in attracting foreign direct investment (FDI) through merger clearances, and acknowledged the valuable support from the Ministry of Law, Ministry of Finance, and the Supreme Court and high courts.During the workshop, journalists raised concerns regarding the CCP’s challenges in enforcing competition laws, especially the backlog of cases in higher courts. CCP officials addressed these concerns, providing detailed responses and reiterating their commitment to addressing these challenges effectively.

The event was attended by key CCP officials, including Director Generals Shahzad Hissain, Noman Laiq, Ahmed Qadir, Dr Ikram ul Haq, Senior Legal Advisors Ambreen Abassi and Hafiz Naeem, along with other staff members.