CCP plays pivotal role in ensuring free, fair competition in all spheres of economic activities-Chairman

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DNA

ISLAMABAD:  Competition Commission of Pakistan   plays a vital role in ensuring free and fair competition in all spheres of commercial and economic activities and preventing market abuse to promote good governance, ensure corrective behavior and sustainable compliance through advocacy measures and training for the corporate sector. This has been stated by Chairman, Competition Commission of Pakistan Dr Kabir Ahmed Sidhu during a briefing at Islamabad Chamber of Commerce and Industry.

He said that engagement with industry and chambers is an integral part of its advocacy outreach, therefore it has been engaging with chambers, academia and professional bodies for the purpose and this session at ICCI is also the part of the same engagements.

Dr Kabir Ahmed Sidhu went on to say that Competition Commission of Pakistan and Islamabad Chamber of Commerce and Industry’s collaboration will greatly contribute in alleviating the concerns and complaints regarding unfair practices by certain business entities therein promotion of healthy business environment. Highlighting the performance of the CCP he stated that heavy penalties are imposed on violators of CCP laws and that a number of cases are also pending in the apex court for final decisions.

President Islamabad Chamber of Commerce and Industry Ahsan Zafar Bakhtawari  in his welcome address underlined the need for provision of  level playing field to all the business entities and strict actions against the cartels not only for the  ease of business doing but for the benefit of the consumers. He said that CCP’s role  in fostering a competitive business environment in economic growth of the country and protecting businesses and consumers from anti-competitive acts and behaviors is of paramount importance and that ICCI will extend all  out support to CCP for the cause.

He also underlined the need for CCP’s full support for the promotion of startups and entrepreneurships for the economic well-being of the country by saying that ICCI is looking forward to working with CCP in promoting good corporate governance and competition law compliance.

Secretary General United Business Group Zafar Bakhtawari termed the healthy competition as an important essence for the advancement of the businesses. He asserted that there should be no liking and disliking and all the stakeholders should be provided similar facilities and fascinations for the initiatives. He also stated that privatization, deregulation and fair competition in the energy sector is not only the backbone of Pakistan’s economy but rather imperative for the integrity of the country.

Shahzad Hussain, Director General Advocacy in his in-depth presentation enlightened the participants about the working of the CCP by saying that it closely keeps watch on abuse of dominant positions, exploitative behaviors, discrimination in price, unreasonable price hike, cartelization and such other unhealthy practices to ensure the free and fair business atmosphere in the country.

Salman Amin, Member, Advocacy & Exemptions expressed the hope that the   awareness session will prove useful for the attendees.

Senior Vice President ICCI Faad Waheed in his vote of thanks said that CCP enjoys the powers of suo moto action; thereby it is imperative that it should initiate actions by itself in the matters of importance and urgency to curb corrupt practices.

Mian Ramzan, Convener Tax Committee ICCI conducted the ceremony in excellent manners.

Those present on the occasion were Yousuf Rajput, Raja Hassan Akhtar, Malik Shabbir, Ch. Maqsood Tabish, Ashfaq Chattah, Malik Naveed, Shaikh Hameed, Ch. Babar, Sajid Iqbal, Khalid Ch. Malik Mohsin, Ch. Irfan, Imtiaz Abbasi, Zia Ch and others.