ISLAMABAD: The Senate Standing Committee on Finance, chaired by Senator Saleem Mandviwalla, held a meeting to review the performance of the Competition Commission of Pakistan (CCP).

Chairman CCP, Dr. Kabir Ahmed Sidhu, briefed the Committee that through active litigation follow-up over the past year, the number of pending cases in courts was reduced from 567 to 280. He further informed that court decisions resulted in the recovery of PKR 410 million in fines, while 14 orders were issued against cartels, imposing penalties of more than PKR 1 billion.

The Commission also apprised the Committee that 20 inquiries were completed on cartelization and abuse of dominance, while 18 inquiries addressed deceptive marketing practices. The CCP’s Market Intelligence Unit identified 193 potential cases of cartelization and deceptive marketing. Moreover, the Commission approved 117 mergers and acquisitions, which led to foreign direct investment of PKR 29 billion into Pakistan.

The Committee directed the Law Secretary to cooperate with CCP to ensure early hearings of its pending cases in courts. Law Secretary Raja Naeem briefed the Committee that out of 200 CCP cases currently before the Supreme Court, 167—challenging the jurisdiction of the Commission—have been clubbed and referred to the constitutional bench. He added that the hearing is expected in September.

The Committee members instructed CCP to take strict action against cartelization in the cement and sugar sectors. They also expressed their full support for the Commission, assuring that the Senate Committee stands firmly behind CCP in its enforcement efforts.