Daily Times

Chairman Competition Commission of Pakistan (CCP) CCP Dr Kabir Ahmed Sidhu Wednesday said that the commission plays vital role in ensuring free and fair competition in all spheres of commercial and economic activities and prevent market abuse to promote good governance.

In a briefing held at Islamabad Chamber of Commerce and Industry, he said that the CCP also ensure corrective behavior and sustainable compliance through advocacy measures and trainings for the corporate sector, said a press release.

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 said that CCP 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.

Speaking on the occasion, President ICCI Ahsan Zafar Bakhtawari 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 work 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 said that privatization, deregulation and fair competition in energy sector is not only the backbone of Pakistan?s economy rather imperative for the integrity of the country.