Finance Minister Muhammad Aurangzeb Tuesday directed the Competition Commission of Pakistan (CCP) to take strategic initiatives to strengthen its enforcement framework.
The minister chaired a high-level meeting to review the performance of the Competition Commission of Pakistan (CCP). The meeting focused on measures to enhance the CCP’s operational efficiency and institutional effectiveness in fulfilling its regulatory mandate.
The meeting was attended by Chairman CCP Dr. Kabir Sidhu, along with Members Saeed Ahmad Nawaz, Bushra Naz Malik, Salman Amin, and Abdul Rashid Sheikh. This meeting was a follow-up to the minister’s visit to the CCP in the first week of December 2024.
The minister reviewed the CCP’s departmental progress and discussed strategic initiatives to strengthen its enforcement framework. He was briefed by each Member on the performance of their departments. Finance Minister reaffirmed Government’s commitment to enabling CCP in augmenting its institutional ability and capabilities.
Chairman CCP briefed the minister on the Commission’s proactive enforcement efforts in identifying and addressing anti-competitive practices, including cartelization and trade abuse. Dr. Sidhu also provided an update on ongoing litigation, recoveries and adjudication matters. Since his appointment almost 79 cases have been successfully concluded while others remain under active proceedings.
The discussion also focused on the appointment of the Competition Appellate Tribunal (CAT), emphasizing its crucial role in accelerating the resolution of competition-related cases and enhancing the enforcement of Competition Law. The minister had previously facilitated the appointment of the Chairman and two Members of CAT. He reaffirmed his commitment to supporting the CCP in this regard.
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A very important part of regulatory structure, but it has utterly failed to perform. CCP has not done any thing to protect citizens from manipulation by the corporate sector. Almost all products of financial, insurance and every other sector are mis-sold or offered.
Sad indeed the change of name from Monopoly Control Authority to CCP did not change the performance.