The Competition Commission of Pakistan (CCP) has issued approximately 32 orders and 219 show-cause notices during the last three years to various companies for non-compliance with the Competition Act and for involvement in unfair business practices.
An official of the commission said on Thursday that CCP has passed six orders and served 47 show-cause notices on jute mills, poultry sector, and real estate investment trusts, while four enquiry reports were prepared over the last six months.
The commission has also conducted two search and inspection operations against ship agents and Pakistan Vanaspati Manufacturers Association over the last six months for tackling cartelisation and ensuring protection of consumer rights.
A total of 45 no objection certificates (NOC) were also issued for mergers, whereas 34 companies were granted exemption. During the last three years, CCP has prepared 19 enquiry reports and held four search and inspection operations.
The official informed that Pakistan Jute Mills Association has deposited Rs16 million as fine and that the commission was also investigating an increase in prices commodities, adding that strict action would be taken against the companies involved in prohibited practices.
Published in The Express Tribune, March 25th, 2011.
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