Business activity: Competition policy essential to enhance economic growth
CCP chairperson says consumers to be protected against anti-competitive activity
Competition Commission of Pakistan (CCP) Chairperson Vadiyya Khalil. PHOTO: www.cc.gov.pk
PESHAWAR:
Competition or anti-trust policy helps enhance economic growth, said Competition Commission of Pakistan (CCP) Chairperson Vadiyya Khalil at a seminar at the Khyber-Pakhtunkhwa Chamber of Commerce & Industry (KPCCI) on Monday.
The seminar was part of the ‘National Road Show on Competition Law’ organised by the CCP in 22 cities throughout the country. Competition or anti-trust law helps promote and maintain fair competition in markets. The Competition Law 2010 “applies to all undertakings in Pakistan regardless of their public or private ownership,” says its website. “[The law] sets out procedures relating to review of mergers and acquisitions, enquiries, imposition of penalties, grant of leniency and other essential aspects of law enforcement.” The website goes on to add, “Briefly, the law prohibits situations that tend to lessen, distort or eliminate competition such as actions constituting an abuse of market dominance, competition restricting agreements, and deceptive marketing practices.”
Khalil said, “The road-show will promote a policy which helps business activities, protects consumer rights and discourages anti-competitive business initiatives.” She added, “Creation of awareness in the business community regarding laws of CCP and its implementation at grass-roots level is a main objective of the event.”
Speaking on the occasion, KPCCI President Zulfiqar Ali Khan said, “The CCP members should take effective measures to boost business activities and create a healthy environment for terrorism-hit industries.” He demanded action should be taken according to laws of CCP against those who cause damage to K-P’s industries.
He proposed, “The CCP should carry out legislation which small and medium businesses of K-P can benefit from and compete with rest of the federating units.” The KPCCI president pointed out effective measures need to be taken to stabilise the economy of the province and generate employment opportunities.
Ali criticised the government for imposing regulatory duty on more than 313 imported items under the new tax measures of Rs40billion to bridge fiscal shortfall.
Published in The Express Tribune, December 8th, 2015.
Competition or anti-trust policy helps enhance economic growth, said Competition Commission of Pakistan (CCP) Chairperson Vadiyya Khalil at a seminar at the Khyber-Pakhtunkhwa Chamber of Commerce & Industry (KPCCI) on Monday.
The seminar was part of the ‘National Road Show on Competition Law’ organised by the CCP in 22 cities throughout the country. Competition or anti-trust law helps promote and maintain fair competition in markets. The Competition Law 2010 “applies to all undertakings in Pakistan regardless of their public or private ownership,” says its website. “[The law] sets out procedures relating to review of mergers and acquisitions, enquiries, imposition of penalties, grant of leniency and other essential aspects of law enforcement.” The website goes on to add, “Briefly, the law prohibits situations that tend to lessen, distort or eliminate competition such as actions constituting an abuse of market dominance, competition restricting agreements, and deceptive marketing practices.”
Khalil said, “The road-show will promote a policy which helps business activities, protects consumer rights and discourages anti-competitive business initiatives.” She added, “Creation of awareness in the business community regarding laws of CCP and its implementation at grass-roots level is a main objective of the event.”
Speaking on the occasion, KPCCI President Zulfiqar Ali Khan said, “The CCP members should take effective measures to boost business activities and create a healthy environment for terrorism-hit industries.” He demanded action should be taken according to laws of CCP against those who cause damage to K-P’s industries.
He proposed, “The CCP should carry out legislation which small and medium businesses of K-P can benefit from and compete with rest of the federating units.” The KPCCI president pointed out effective measures need to be taken to stabilise the economy of the province and generate employment opportunities.
Ali criticised the government for imposing regulatory duty on more than 313 imported items under the new tax measures of Rs40billion to bridge fiscal shortfall.
Published in The Express Tribune, December 8th, 2015.