Penalty can be cut for law violators: CCP

Regulator says leniency regime allows relief even after a ruling.

KARACHI:

The Competition Commission of Pakistan (CCP) has said that its leniency regime is the only such regime in the world which allows parties to claim leniency even after an order has been passed in a case relating to violation of competition laws.

Under the leniency regime, penalties on CCP law violators were reduced if they cooperated with the regulator during investigations in breaking cartels, CCP members said in a presentation at Overseas Investors Chambers of Commerce and Industry.

The CCP delegation, led by its Chairperson Rahat Kaunain Hassan, discussed the CCP Act 2010 and its road plan.

CCP’s Member Mergers, Acquisitions and International Affairs Dr Joseph Wilson shared that the Commission’s merger control system was based on best global practices and stipulated mandatory procedure for review and clearance of mergers and acquisitions meeting the thresholds specified by the Commission.







Published in The Express Tribune, June 28^th, 2011.