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CCP Urge for Strict Enforcement of Laws

CCP: Laws aim 25-30% cut, cartel removal, economic shift in Pakistan.

Speaking at a debate session hosted by the Lahore Economic Journalist Association on Monday, Kaunain expressed her opinion that it was crucial to enforce competition laws given Pakistan’s current crisis-like circumstances.

She demanded the development of a National Competition Policy in order to raise awareness among stakeholders, stating that “effective enforcement is the only way to protect consumers.”

The CCP chairperson also demanded the creation of a regulatory tribunal to handle issues especially involving regulators.

This will expedite the resolution of issues before authorities and enhance the nation’s overall business and investment climate, according to her.

Kaunain shared information about the various investigations into cartels and the anti-competitive behavior of various industries.

He made note that while commercial banks were cooperating with the CCP, the State Bank of Pakistan (SBP) was failing to provide the information necessary with regard to the investigation into T-Bills auctions.

She added that the abnormal volatility of the bank’s base rates during the auctions was also under investigation.

“During the inquiry period under view, banks spent 55% to 75% of their deposits into government T-Bills’ auctions,” she stated.

“The assistance of other governmental authorities could increase the effectiveness of the CCP. For the public to receive better services, all government regulators must work together, she said.

 

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