4 days ago
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Protection of consumer interests: A robust framework is a must, Aurangzeb tells CCP
ISLAMABAD: Federal Minister for Finance Muhammad Aurangzeb conveyed to the Competition Commission of Pakistan (CCP) a robust competition framework is essential for protecting consumer interests, ensuring market transparency and sustaining economic growth. Federal Minister for Finance Aurangzeb was given a comprehensive briefing by the CCP on the challenges related to promoting competition in the sugar sector and the causes of the recent sugar crisis.
The meeting was attended by Adviser to the Finance Minister Khurram Shehzad, Chairman CCP Dr. Kabir Ahmed Sidhu, Registrar CCP Shehzad Hussain, Legal Adviser Hafiz Naeem, and Director Cartel and Trade Abuse Salman Zafar, along with other senior officials.
During the briefing, Dr Kabir Ahmed Sidhu informed the finance minister that CCP is preparing detailed recommendations to assist the Sugar Sector Reform Committee.
Sugar crisis: Finance minister Aurangzeb, CCP chairman Sidhu discuss ways to stabilise market
He also apprised the minister of the causes of previous sugar crises in 2008-09, 2015-16, and 2019-20, and shared the Commission's findings and enforcement actions against cartelisation in the sector. The finance minister was informed that the CCP's 2021 order against the sugar cartel had been remanded by the Competition Appellate Tribunal to CCP for a rehearing, and that the commission has formulated a comprehensive strategy for its expeditious disposal.
Aurangzeb assured full government support to the CCP for expediting court proceedings of pending cases and enhancing the institution's operational capacity.
He reaffirmed that a robust competition framework is essential for protecting consumer interests, ensuring market transparency, and sustaining economic growth.
The meeting also reviewed pending litigation, examined administrative and regulatory measures to stabilise the sugar market, and discussed proposals to strengthen CCP's institutional capacity to promote economic efficiency, protect consumers, and ensure a transparent, competitive business environment.
Copyright Business Recorder, 2025
