Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Tuesday said that the Compaction Commission of Pakistan (CCP) is an important regulator, which has its own building and will strengthen it as an institution. The CCP has a significant role as a regulator in the country’s economy, which will be strengthened in the future for sustainable economic development in the country, Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb said this while addressing the groundbreaking ceremony of its head office building here. In the ceremony laid the foundation stone of the new head office of the Competition Commission of Pakistan (CCP), Federal Minister for Law and Justice, Azam Nazir Tarar, Federal Minister, Ali Pervaiz Malik and Chairman CCP, Dr Kabir Ahmed Sidhu also addressed the ceremony The finance minister said that it is important for the commission to have its building and at the same time also significant for CCP’s initiatives to continue in future, he said. “I applauded the Chairman CCP and his team for this milestone of the foundation stone of the new head office,” he said. He said the government will not let any opportunity for economic development go to waste and make good use of every opening for sustainable economic development. Federal Minister, Ali Pervaiz Malik said that the CCP has huge importance as a regulatory institution, this is an institution that is playing a huge role in the competitiveness of the market and the country’s economy. Chairman Competition Commission, Dr. Kabir Ahmed Sidhu, while addressing the ceremony said that the foundation stone ceremony of the CCP Head Office is a memorable moment and the new head office building will increase the efficiency of the CCP. He said that all employees of the CCP will be able to work under one roof and having its building will save CCP on rent. The Chairman CCP said that the institution will recruit specialized staff from the money saved on rent and also open new CCP offices in other major cities by saving. He said that Pre-merger applications are important matters of the Competition Commission to consider and in the last 14 months, CCP approved 140 pre-merger applications. The CCP recently launched a campaign against cartels and the CCP has launched a new department called the Market Intelligence Unit to curtail the cartels. He said the CCP is also establishing a Center of Excellence for research, the CCP is striving to promote competition and protect consumers in the country. Meanwhile, praising the services of the Chairman CCP, Federal Law Minister Azam Nazir Tarar said that the Chairman has provided leadership to the institution for playing an important role in the country’s economy. He congratulated the Chairman of the CCP and his team for the groundbreaking work of the CCP head office in the capital.