ISLAMABAD:The Karachi Chamber of Commerce and Industry (KCCI) and Competition Commission of Pakistan (CCP) on Friday joined hands to create a level playing field and prevent anti- Competitive practices.
The Karachi Chamber of Commerce and Industry (KCCI) held an advocacy session with the CCP, where the representatives of the chamber apprised the CCP of different competition issues and sought its help in creating a level playing field and removing entry barriers in the different sectors, said a press release issued here.
From KCCI, the advocacy session was attended by President KCCI Muhammad Idrees, Vice President KCCI Qazi Zahid Hussain, KCCI Managing Committee Members, and from CCP by the Chairperson Ms. Rahat Kaunain Hassan, Member Mujtaba Ahmad Lodhi, and Director Generals Mr. Noman Laiq and Asfandyar Khattak.
While speaking on the occasion, Ms. Rahat Kaunain Hassan said that the CCP had imposed penalties of up to Rs70 billion for different violations of the Competition Act on various sectors.
However, the recovery remains paltry due to the fact that most of the undertakings had challenged the CCP’s orders in the higher courts where the due process of judicial review is underway.
The real effectiveness of the CCP’s orders would be felt once the judicial review process was complete, particularly in the cartel cases, that call for prioritization for the harm it incurs to the economy, she added.
The Chairperson further said that as an institution, the CCP was accountable for its mandate, but in the pending cases, the review process had to take its course.
Ms. Rahat Kaunain Hassan said that as against the general impression, the CCP was not a price regulator, but it only intervenes where the prices of goods and services are affected by anti-competitive practices such as abuse of dominance and cartelization.
The main job of the CCP was to make sure that markets were functioning in compliance with the competition rules and regulations.
She informed that as per OECD reports/estimates, prices can go down 25-30 percent if cartels were busted.
During the session, members of KCCI brought several issues and competition related matters to the CCP’s notice.
The Chairperson offered that the CCP can change its regulations to exempt the Chambers of Commerce from charging of fee for filing formal complaints in endeavouring to address concern in resolving competition issues.
She informed that the informant reward scheme and leniency provisions are available which the business community can benefit from and help the CCP in identifying the anti-competitive issues. She assured the CCP’s full support in resolving the competition issues and creating a level playing field.