State Minister for Finance and Revenue Ali Pervaiz Malik Wednesday visited the Competition Commission of Pakistan (CCP) and underscored the role of the Commission in checking market failure and protecting consumers from anti-competitive practices. <\/p>\n\n\n\n
During his visit, Malik conveyed the ministry\u2019s commitment to bolstering CCP\u2019s capacity to increase its effectiveness, whether through legislative reforms, follow-up on court cases, or capacity-building initiatives.\u00a0\u00a0<\/p>\n\n\n\n
Addressing CCP\u2019s officials, he emphasized the need for a comprehensive review of the Competition Act to ensure it remains modern, effective, and relevant as well as to address the challenges being faced by the Commission. <\/p>\n\n\n\n
\u201cCompetitiveness in markets is vital for protecting consumer interests. It also encourages new startups and attracts investments,\u201d said Malik. <\/p>\n\n\n\n
CCP Chairman Dr Kabir Ahmed Sidhu briefed the minister on the Commission\u2019s role, including its functions, performance, and ongoing inquiries in important sectors of the economy. He highlighted the challenges faced by the CCP, including legal obstacles.\u00a0<\/p>\n\n\n\n
The minister pledged his full support to the CCP in overcoming its challenges. He requested a detailed list of pending court cases and stay orders, to take up with the Attorney General and Law Ministry for expeditious resolution. The minister urged the chairman to maintain close coordination with the Finance Ministry to ensure effective vigilance of consumer interests.\u00a0<\/p>\n\n\n\n