CCP imposes Rs. 6.545 bln penalty to discourage cartelization in industrial sector

Profile Picture


ISLAMABAD, Oct 23 (APP):Minister for Law and Justice Zahid Hamid Monday apprised the Senate that the Competitive Commission of Pakistan (CCP) was fully cognizant of cartelization in the industrial sector and imposed penalties worth Rs 6.545 billion on cement and Rs 140 million on automobile sectors to discourage cartelization.
Winding up debate on a deferred motion moved by Mohsin Aziz, the House might discuss the issue of cartelization in the industrial sector, the minister said, adding 137 complaints were received to CCP . The CCP always took prompt action against the cartelization to protect the interests of the consumers, he said.
However, he said all the penalties were sub-judice in courts of law and CCP was actively pursuing the cases through Attorney General Office
He said it had also yielded positive effects on production.
Earlier Mohsin Aziz and Col (R) Tahir Hussain Mashhadi urged the government for taking steps to end cartelization and protect the customers.