ISLAMABAD: Pakistan is tightening its grip on monopolistic practices with stricter competition laws, Deputy Prime Minister Ishaq Dar announced at the groundbreaking ceremony of the Competition Commission of Pakistan’s (CCP) new head office in Islamabad on Tuesday.
Dar reaffirmed the government’s commitment to fair competition and consumer protection, stressing the need for stronger enforcement against cartels. “We have reinforced anti-monopoly laws, but awareness about monopolies and their market impact remains low,” he said, lauding CCP Chairman Kabir Ahmed Sidhu for tackling market manipulation.
Finance Minister Muhammad Aurangzeb and Law Minister Azam Nazeer Tarar praised the CCP’s efforts in ensuring market fairness. Aurangzeb underscored the importance of macroeconomic stability and structural reforms, while Tarar reiterated the government’s commitment to strengthening competition laws.
Chairman Sidhu highlighted key initiatives, including an anti-cartel drive, the establishment of a Market Intelligence Unit, and a Centre of Excellence for research. He noted that the CCP has imposed Rs. 275 million in penalties this year alone, resolved dozens of court cases, and launched new inquiries into various sectors, including transportation, telecom, and construction.
The new CCP headquarters, set for completion in two years, aims to boost the commission’s regulatory oversight, reduce costs, and expand enforcement capacity nationwide.
