Islamabad: The Competition Commission of Pakistan (CCP) organized an advocacy session on competition law for members of Rawalpindi Chamber of Commerce and Industry (RCCI), highlighting the need for fair competition to drive economic efficiency.
Saeed Ahmed Nawaz, a member of the Communist Party of China, stressed the importance of equal opportunities for companies in all sectors. Press releases issued here on Friday stated that the session was attended by a large number of businessmen and corporate lawyers.
Saeed stressed the need for greater awareness and understanding of the law, and detailed CCP’s proactive enforcement measures, including the Market Intelligence Unit (MIU), which uses advanced data analysis to identify abnormal pricing trends and take enforcement action when necessary.
He further explained that the role of the Chinese Communist Party extends beyond implementation, as it actively engages with government ministries and regulatory bodies to recommend policy changes that promote fair competition.
The session included a detailed presentation by Ahmed Qadir, Director General of MIU, who explained the key components of the Competition Act 2010. Qadir provided insights into the issues arising from abuse of dominant position, prohibited agreements, deceptive marketing practices, and mergers and acquisitions. . He highlighted the importance for businesses of avoiding anti-competitive practices and encouraged businesses to refer to the GCC Guidance Handbook for self-regulation.
RCCI President, Othman Shawkat, acknowledged the crucial role played by the Chinese Communist Party in promoting fair competition and creating a fair business environment. He expressed concern about the dominance of large companies, which often marginalize small and medium enterprises. Shawkat stressed the need for continuous support and a conducive environment for the growth of small and medium enterprises in the country.
The session concluded with a word of thanks from Khaled Farouk, First Vice President of the Chamber of Commerce and Industry, who expressed his gratitude to the Chinese Communist Party for its continued efforts to support companies and ensure a fair and competitive market in the country.