Fair competition essential for sustainable economic growth: CCP

LAHORE, Mar 30 (APP):Competition Commission of Pakistan (CCP) Chairman Farid Ahmad Tarar said on Monday that fair competition is the foundation of a strong economy and sustainable economic growth can only be achieved through transparency, equal market opportunities and strict compliance with laws.
Addressing an awareness session here at Lahore Chamber of Commerce and Industry (LCCI), he said that cartelization, deceptive marketing practices and abuse of dominant market position harm both consumers and small businesses, therefore a culture of voluntary compliance must be promoted within the business community.
He said, the Commission was established in 2007 to promote fair competition, following earlier regulatory arrangements under the Monopoly Control Authority formed in 1970. He continued that economic reforms, privatization and the expanding role of the private sector created the need for a modern competition regulator.
Tarar explained that competition law prohibits cartel formation, market division, price fixing and manipulation of supply or demand, adding that abuse of dominant market position in any sector negatively affects market fairness and is subject to regulatory action.
The CCP Chairman also highlighted that deceptive marketing practices, misleading advertisements and brand imitation create consumer confusion and harm legitimate businesses.
He said, the Commission is digitizing its complaint management system to enable businesses to file applications online, ensuring transparency and efficiency. Under Section 37, multiple complaint mechanisms are available for businesses and consumers seeking redressal.
With the rise of e-commerce and digital markets, he added, the CCP is developing updated guidelines to address emerging challenges and protect consumers. He emphasized that Pakistan’s stagnant exports, rising costs and limited integration into global value chains require stronger compliance culture and competitive business practices. He reaffirmed CCP’s commitment to close collaboration with the Lahore Chamber to promote awareness, transparency and a competitive economic environment.
On this occasion, LCCI President Faheem Ur Rehman Saigol said that a strong competition regime is vital for industrial growth, investment promotion and consumer protection. He said that healthy competition ensures better quality products at competitive prices while improving industrial efficiency. He added that the SME sector is the backbone of Pakistan’s economy and competition policies must prioritize protection of small and medium enterprises to safeguard them from monopolistic practices and cartelization.
He noted that with the rapid expansion of digital platforms and e-commerce, Pakistan requires a clear competitive framework for digital markets to ensure a fair and secure environment for online businesses. He proposed establishing a joint liaison committee between LCCI and CCP to hold regular consultations, awareness sessions and policy dialogues for the business community. He added that a transparent and reliable competition system would enhance investor confidence and help attract both local and foreign investment.
LCCI Senior Vice President Tanveer Ahmad Sheikh, Vice President Khurram Lodhi, Executive Committee Members, DG Market Intelligence Unit Dr. Ikramul Haq, Secretary Maryam Pervaiz and Director Maliha Quddus also attended the meeting.