|
|

Competition Commission of Pakistan (CCP) was established on 2nd October, 2007 under the Competition Ordinance, 2007. Major aim of this Ordinance is to provide for a legal framework to create a business environment based on healthy competition towards improving economic efficiency, developing competitiveness and protecting consumers from anti-competitive practices.
Prior to Competition Ordinance, 2007, Pakistan had an anti-monopoly law namely ‘Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance’ (MRTPO) 1970. The Monopoly Control Authority (MCA) was the organization to administer this Law. In the fast changing global and national economic environment, the MRTPO, 1970 was inadequate to address competition issues effectively. This was because: i) the 1970’s law was out of date for a modernizing and rapidly transforming market economy; ii) due to several limitations in the law, the MCA was not able to meet the expectations of businesses and the consumers at large; iii) the first generation reforms that liberalized the economy and unleashed the power of the private sector required a competition policy framework that could promote and protect competition and innovation. more

|