US Support of Pakistan
Richard Hoagland, America’s Deputy Chief of Mission ambassador, was most impressed on his recent visit to the Competition Commission of Pakistan (CCP). While he was there, he commented on the work the CCP has been engaged in vis-à-vis fair business competition; consumer rights and economic reforms. In addition, he toured the premises with Rahat Hassan (CCP Chairperson), meeting with the rest of the team.
Much of the work of the CCP is focused on ending any existing corruption including: market dominance abuse; collusive practice; untruthful marketing and mergers and acquisitions that have not gone through the proper legitimate channels. It has achieved this through a variety of different means. For example, the 2010 Competition Act, has been hugely successful and was really only implemented due to the dedication and focus of the CCP. Ultimately, Hoagland announced that he was “inspired” at what he saw – young Pakistanis making a real difference in the country.
Vis-à-vis Punjab, the CCP recently issued a policy note, requesting its government to lift the sugar mill growth ban, which would permit new entrants. The ban was enacted in 2006 and it ended the construction of new sugar mills, as well as the expansion of current ones. The CCP noted that such a restriction could result in lowered production, price-fixing and quota allocation.
Potential Foreign Investments
Thanks to the CCP, he added, Pakistan is becoming a far more attractive investment option for foreigners which will ultimately result in a more solid economy in Pakistan. In addition, the US embassy has always backed the CCP and will continue in this venture, thanks to the great work it has been doing, especially as, according to Hoagland, it is the “future of the globally competitive Pakistan.”
In addition, the CCP is becoming known as an attentive government authority, and, along with affirmative media exposure, the private sector is now much more aware of the distinction of competition law. It is necessary that the law enforcement agency is fair, and can work without hesitation brought on by fear.
So ultimately, Pakistan is working hard and the CCP is navigating and facilitating much of its progress.