CCP suspends order against Takaful

Express May 28, 2010

ISLAMABAD: The Competition Commission of Pakistan (CCP) has suspended operation of its order while hearing an appeal filed by Takaful Pakistan Limited (TPL).

Takaful Pakistan and Travel Agents Association of Pakistan (Taap) had filed appeals against the CCP order dated January 29, 2010 in which the two were penalised for violating Section 3 (abuse of dominant position), Section 4 (prohibited agreements) and Section 10 (deceptive marketing practices) of the Competition Ordinance.

The suspension decision was taken in the hearing on Tuesday before the appellate bench of the CCP comprising Chairman Khalid Mirza and Member (Legal) Rahat Kaunain Hassan.

Takaful Pakistan was represented by barrister Khurram Rashid who prayed that till the passing of the final order, the operation of the impugned order be suspended.

The Taap representative got the appeal adjourned as its counsel was busy with the appellate tribunal inland revenue.

The next date of hearing will be scheduled in the first week of June.

Published in the Express Tribune, May 28th, 2010.

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