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ISLAMABAD, Jul 22 (APP):Federal Minister for Finance, Muhammad Aurangzeb , while addressing the Senate, expresses satisfaction over the performance of the Competition Commission of Pakistan (CCP), stating that the Commission’s new Chairman and Members has brought significant improvements, particularly in reducing the number of pending court cases.
The Minister requested the Chairman Senate Standing Committee on Finance and Revenue to invite Dr. Kabir Sidhu, Chairman CCP, for a detailed briefing to appreciate the true extant of reforms undertaken by the Commission, said a release issued here on Tuesday.
The finance minister informed the House that over the past two years, the CCP’s new management has actively pursued litigation in various courts, which has resulted in reducing the backlog of cases from 577 to approximately 300—a clear reflection of the Commission’s dedicated efforts.
Responding to a motion moved by Senator Mohsin Aziz, the Finance Minister emphasized that a transparent and robust regulatory framework is essential in a market-based economy to foster competition and ensure accountability. In this context, he highlighted CCP’s recent performance as crucial and deserving of support.
He shared that the Commission issued 11 major orders in the past year alone, imposing fines exceeding Rs. 1 billion. Of this amount, approximately Rs. 120 million has already been recovered. The inquiry process has been expedited, the issuance of show-cause notices has become more efficient, and the overall hearing mechanism has improved to ensure timely action against violators.
The Minister further stated that CCP’s Cartels Department completed 20 inquiries during the current fiscal year, while the Office of Fair Trade finalized 13 investigations related to misleading advertisements and deceptive marketing. These investigations have led to the issuance of show-cause notices and the initiation of formal hearings.
He also informed the Senate about the establishment of a dedicated Market Intelligence Unit within the CCP, which proactively monitors market distortions, price manipulation, and other potential violations of competition law. This unit has so far identified 170 potential violations across sectors such as banking, e-commerce, telecom, and real estate, with 28 inquiries already initiated.
Highlighting the Commission’s role in facilitating investment, he said that CCP’s Mergers Department approved 69 transactions during the current year, resulting completion of transactions worth $30 million in foreign direct investment (FDI). Moreover, the Exemptions Department granted 83 exemptions, helping to ease business operations.
The finance minister also acknowledged CCP’s efforts in raising public awareness about competition law through outreach programs and issuing policy notes to promote reforms in key economic sectors. He added that a Centre of Excellence has also been established within the Commission to conduct research and data-driven analysis of various market sectors.