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October 1, 2020

CCP says not price fixing regulator

National

October 1, 2020

ISLAMABAD: The Competition Commission of Pakistan (CCP) explains that the Commission promotes competition and market competitiveness and it is not price fixing regulator.

In a statement issued here on Wednesday, the CCP states that this is with reference to the news tickers run on different news channels attributing a statement to the provincial minister of Trade & Industries, Punjab, saying that, “During the next two weeks, the Competition Commission of Pakistan will determine the sugar prices.”

“While we do not rule out the possibility of misreporting or misunderstanding, we take this opportunity to clarify that CCP is not a price regulator. Fixing of prices would be antithesis of what CCP stands for, i.e. promoting competition and making market competitive,” said the statement.

Under its enforcement mandate, the CCP only intervenes in the market if the business undertakings engage in anti-competitive practices which, inter alia, include the abuse of dominance, cartelization, and deceptive marketing practices.

The CCP’s mandate includes regulating behavior and, in this regard, anti-competitive practices which may include cartelization, and abuse of dominance. Intervention at CCP’s end on the price aspect is restricted to price fixing by commercial undertakings or abuse of dominance, in particular unreasonable price increase by a dominant player in the relevant market. We remain available for any assistance, the statement concluded.