State minister pledges support to strengthen CCP

KARACHI: State Minister for Finance and Revenue Ali Pervaiz Malik reaffirmed the government’s commitment to strengthening the Competition Commission of Pakistan (CCP) during an official visit to the commission on Wednesday.

His visit highlighted the CCP’s vital role in preventing market failures and safeguarding consumers from anti-competitive practices.

Malik talked about the ministry’s dedication to enhancing CCP’s capabilities, including potential legislative reforms, follow-up on court cases, and capacity-building measures aimed at boosting the Commission’s effectiveness. He called for a thorough review of the Competition Act to ensure it remains robust and relevant in addressing the evolving challenges faced by the CCP.

“Competitiveness in markets is crucial for protecting consumer interests. It also fosters new startups and attracts investments,” Malik remarked, underscoring the importance of a fair and competitive market environment.

CCP Chairperson Dr Kabir Ahmed Sidhu provided an overview of the commission’s role, its recent performance and ongoing investigations across key economic sectors. Dr Sidhu also discussed the obstacles the CCP faces, particularly in navigating legal challenges.

In response, Malik pledged full support to help the CCP overcome its challenges, requesting a detailed report on pending court cases and stay orders, which he intends to raise with the attorney general and the law ministry for prompt resolution. He encouraged Dr Sidhu to maintain close coordination with the finance ministry to uphold effective oversight and protect consumer interests.

The meeting was attended by CCP members Saeed Ahmed, Salman Amin, Abdul Rashid Sheikh, Bushra Naz, and several directors-general.