CORPORATE WINDOW: Stifling market growth

Several silent but formidable forces have been hindering market competition in Pakistan’s economic landscape: monopolies, cartels, and the dominance of state-owned enterprises (SOEs). These anti-competitive practices distort the market, exacerbate the price hike phenomenon, degrade product quality, and prevent new businesses from flourishing. This remains a significant barrier to the country’s economic progress and the welfare of consumers. At the same time, one of the key reasons for the limited performance of the Competition Commission of Pakistan (CCP), the regulatory body in this regard, is the significant number of cases pending in the courts. In one of the cases against a key sector of the economy, the Sindh High Court imposed a penalty of Rs50,000 on the CCP for requesting early hearings as the case was pending for almost 10 years.