Latest news with #2010
Daily Mail
2 hours ago
- Entertainment
- Daily Mail
PLAY TEAMSHEET: Can YOU name the Wolves side that beat Liverpool 1-0 in 2010? Or pick YOUR team and guess their starting XI
Welcome back to Teamsheet... Mail Sport's original football memory game with a twist that gives you the chance to test your football knowledge against your mates. Liverpool may be Premier League champions, but, today, we are heading back to the end of 2010, when bottom of the pile Wolves earned their first win over the Reds in 27 years. The defeat piled the pressure on Roy Hodgson, whose side sat 12th in the standings themselves. We, though, want to know if you can name the team that Mick McCarthy put out that day. It's just for fun, so see how you fare and share your Teamsheet score... full instructions on how to play are at the bottom of the article and in the game itself. And you can also pick any team you like and guess their starting XI. Best of luck! HOW TO PLAY The aim of the game is to score as few points as possible! If you guess a player at the first attempt you score one point - so the lowest score for guessing every player at the first attempt is 11. Guess a correct letter in the right position, and it'll turn green. Guess a correct letter but in the wrong position, and it'll turn yellow. You have six guesses for each player - and if you fail, we'll reveal their identity for 11 points! You can also ask for a free letter, but it costs you a point. So play on to see if you'll score the best possible total of 11 - or fail on every player and score 121.
Business Recorder
7 hours ago
- Business
- Business Recorder
Pharmaceutical sector: CCP grants six exemptions to undertakings for FY2024–25
ISLAMABAD: In line with its mandate to promote fair competition and protect consumer welfare, the Competition Commission of Pakistan (CCP) has granted six exemptions to undertakings in the pharmaceutical sector for the fiscal year 2024–25, under Section 5 of the Competition Act, 2010. These exemptions relate to specific restrictive clauses in commercial agreements — such as territorial exclusivity and non-compete provisions that would ordinarily be considered anti-competitive under Section 4 (Prohibited Agreements) of the Act. However, after conducting rigorous due diligence, including a detailed assessment of market structures, sector-specific regulations, and the commercial terms of the agreements, CCP determined that the arrangements in question contribute to production efficiency, technological advancement, and enhanced consumer access to critical pharmaceutical products. The Commission noted that these exemptions are expected to improve service delivery, increase the availability of medicines in underserved regions, and lead to better public health outcomes. Consumers stand to benefit from access to advanced pharmaceutical technologies, more reliable product information, and higher standards of service. Each exemption was granted for a specific duration and is subject to conditions that ensure the pro-competitive benefits clearly outweigh any potential adverse effects on competition. Importantly, the undertakings are required to avoid any form of price-fixing or collusive conduct, and pricing arrangements remain outside the scope of these exemptions. The pharmaceutical sector remains a priority area for CCP's exemption regime, with the Commission maintaining close coordination with relevant health regulators to ensure that such decisions serve the broader public interest. Copyright Business Recorder, 2025
Business Recorder
2 days ago
- Business
- Business Recorder
CCP imposes Rs375m fines on six major fertilizer makers, FMPAC
ISLAMABAD: In a landmark decision against cartelisation, the Competition Commission of Pakistan (CCP) has imposed fines totaling Rs 375 million on six major fertilizer manufacturers and their trade association, the Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC), for colluding to fix the retail price of urea across the country. The penalties follow a suo motu inquiry launched by the Commission, which concluded that the manufacturers — in coordination with FMPAC — had jointly issued a public advertisement setting the maximum retail price at Rs 1,768 per 50 kg bag. The CCP found that this was not a routine awareness campaign but a coordinated act of cartelization, violating Section 4 of the Competition Act, 2010. The order was issued by a CCP bench comprising Chairman Dr Kabir Ahmed Sidhu and Member Salman Amin. The six companies fined Rs 50 million each include Engro Fertilizers Limited, Fauji Fertilizer Company Limited, Fauji Fertilizer Bin Qasim Limited, Fatima Fertilizer Company Limited, Fatima Fertilizer Limited, and Agritech Limited. Their association, the FMPAC, was fined Rs 75 million, bringing the total penalty to Rs 375 million. The Commission's investigation noted that despite significant differences in gas pricing, economies of scale, and input costs, all companies charged the exact same price — a clear indicator of collusion rather than coincidence. The manufacturers attempted to defend their conduct by invoking the 'state action doctrine,' arguing that they acted under a federal government directive to educate farmers about urea prices. However, the CCP bench found no formal instructions compelling the companies to set a uniform price. Instead, the companies misused the government's communication to justify a cartelised price-fixing strategy. The bench observed that actions taken under the pretext of public interest effectively undermined the forces of supply and demand and distorted competitive pricing mechanisms. The Commission expressed concern that despite repeated warnings issued in 2010, 2012, and 2014 — including findings that two companies had engaged in joint advertising to influence market prices — no long-term corrective measures were taken by the companies or FMPAC. The recurrence of such behavior signaled the ineffectiveness of prior warnings and reinforced the need for stronger enforcement and deeper structural reform. While announcing the order, the CCP reiterated that business associations like FMPAC have no legal authority to set or recommend prices. Their involvement in coordinated pricing decisions undermines market competition and consumer welfare. The Commission warned that any such action — particularly from entities that have long benefited from government subsidies — will not be tolerated. The CCP's order also touched upon broader policy concerns. Pakistan's fertilizer sector, once heavily subsidized to promote local production, continues to operate under the outdated Fertilizer Policy of 2001. That policy had extended 20-year gas supply contracts at concessionary rates to fertilizer plants commissioned after 2001. Although these subsidies expired in July 2021, pricing across companies has remained inexplicably aligned. According to a study by the Pakistan Institute of Development Economics (PIDE), the government has been spending approximately Rs 200 billion annually on fertilizer subsidies — yet the intended benefit has largely failed to reach farmers, who continue to face high prices and supply shortages. The Commission stressed that this uniformity in pricing, even after deregulation and subsidy withdrawal under IMF conditions, raises serious concerns about the lack of true market competition. Despite differences in technology, plant age, and gas costs, the six companies maintained identical prices, suggesting that collusion — not competition — drives pricing in the fertilizer sector. Separately, the Islamabad High Court (IHC) has reserved its verdict in a related case concerning the CCP's direction for fertilizer companies to submit cost audit reports. As part of its investigation, the Commission had required these reports to assess pricing behavior. However, the companies challenged the directive in court, claiming that cost audit data was confidential and could not be disclosed. In response, CCP's legal representative argued that all companies are already required to submit cost audits to the Securities and Exchange Commission of Pakistan (SECP), and questioned why the same data could not be provided to another statutory regulator. The court has now reserved judgment after hearing both sides. It is also worth noting that in a separate case involving Dalda Foods, the Supreme Court of Pakistan upheld the CCP's jurisdiction to seek information, monitor market conduct, and conduct investigations—further reinforcing the Commission's legal mandate. Under the Competition Act, any agreement or practice that fixes prices, limits output, or divides markets is prohibited. Violations may lead to fines of up to 10% of annual turnover or Rs 75 million, whichever is higher. Repeat violations can result in criminal prosecution under Section38 of the Act. The CCP has urged the federal government to comprehensively review the Fertilizer Policy 2001, disengage from price coordination through trade bodies, and let market dynamics—not collusive agreements — govern the industry. The Commission reaffirmed its commitment to promoting open markets, safeguarding consumer interests, and holding violators accountable. To report cartel behavior or anti-competitive practices, members of the public can contact the CCP's Market Intelligence Unit at 0304-0875255 or email [email protected]. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
CCP fines fertilizer firms, FMPAC Rs375mn for price fixing
The Competition Commission of Pakistan (CCP) has imposed penalties to the tune of Rs375 million on companies and an industry association for collusion in the fertilizer sector. According to a press statement released on Tuesday, the CCP took decisive action against anti-competitive conduct in the fertilizer sector, imposing a penalty of Rs50 million each on six major urea manufacturers. Moreover, the Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC), a leading industry association, was fined Rs75 million. The CCP bench—comprising Dr Kabir Ahmed Sidhu and Salam Amin—concluded that six urea manufacturing companies, i.e. Fatima Fertilizer Limited, Fauji Fertilizer Company Limited, Fauji Fertilizer Bin Qasim Limited, Fatima Fertilizer Company Limited, Engro Fertilizer Company Limited and Agritech Limited in coordination with their trade association, FMPAC, 'under the guise of conducting an awareness campaign/advertisement, have effectively fixed the price of urea across the country'. IHC reserves verdict in fertiliser prices case 'Such conduct goes beyond the bounds of lawful information dissemination and enters into the realm of anti-competitive behaviour' in violation of Section 4 of the Competition Act, 2010. CCP said that despite claiming price independence, the manufacturers failed to justify their synchronised pricing strategy. 'The commission's investigation uncovered that the conduct not only distorted competition, but also harmed farmers across Pakistan, especially during the critical Rabi and Kharif season, by artificially influencing fertilizer prices and limiting market choice,' said CCP. The government body shared that the respondents' attempt to claim protection under the 'state action doctrine' was also rejected, asserting that no formal government directive or compulsion existed to justify their collusive behaviour. CCP noted that the respondents took advantage of a federal government directive regarding initiating an awareness campaign encouraging farmers regarding urea price and used it as a tool to fix the price in coordination among themselves and jointly announced the uniform price for the urea buyers/consumers. The bench also held that such 'actions, under the pretext of complying with government instructions, effectively undermined market forces and distorted competitive pricing mechanisms.' CCP shared 'with great concern' that despite significant variations in input costs, different economies of scale, size of the market, and different prices of gas, all respondents were charging an identical price for the size of the urea bag, i.e. Rs1,768 per bag. The bench also noted that 'in a market where each undertaking's production capacity and market share are matters of common knowledge, such a coordinated disclosure cannot be viewed as incidental or competitively benign. Rather, the joint announcement constitutes an overt manifestation of concerted conduct.' Moreover, repeated directions from the Fertilizer Review Committee (FRC) were given to the respondents to address their failure to manage supply imbalances. CCP informed that it had issued warnings to the fertilizer manufacturers and FMPAC in 2010, 2012 and 2014, 'which failed to produce any lasting change'.
India Today
4 days ago
- Politics
- India Today
Kerala slams Centre over foreign aid approval to Maharashtra, cites bias
The CPI(M)-led Kerala government on Sunday accused the BJP-ruled Centre of political bias after it permitted Maharashtra to accept foreign contributions for disaster relief while denying similar requests from Kerala during its devastating 2018 Finance Minister K N Balagopal stated that the state welcomed the Centre's approval for Maharashtra but called out what he described as 'discriminatory treatment' between support the decision to give permission to Maharashtra, but there shouldn't be differential treatment towards states. It shows that centre sees the states differently and that is based on politics. It is not right for the administrators to show that their criteria is not the disaster but politics. This is not right for the relation between state and centre,' said Balagopal. His remarks came after the Maharashtra Chief Minister's Relief Fund was granted registration under the Foreign Contribution (Regulation) Act, 2010 (FCRA), making it eligible to receive foreign aid. This contrasts sharply with the Centre's earlier refusal to allow Kerala to accept foreign assistance during the 2018 floods, despite offers from countries including the Balagopal's concerns, CPI MP P Sandosh Kumar also criticised the Centre, accusing it of showing 'step-motherly treatment' toward Union Government's recent approval allowing foreign contributions to the Maharashtra Chief Minister's Relief Fund starkly highlights the injustice done to Kerala during the devastating 2018 floods, when foreign aid was blocked and contributions to the Chief Minister's Relief Fund were disallowed,' he said.'At the time of the 2018 floods that devastated the state of Kerala, many international organisations including the Government of UAE expressed their willingness to extend a helping hand to Kerala but such requests were outrightly denied by the BJP government,' Kumar InTrending Reel IN THIS STORY#Kerala#Maharashtra
