Competition Commission of Pakistan steps up vigilance against cartels

Taking note of artificial price hikes for goods and services and scarcity of quality products due to cartelisation, the Competition Commission of Pakistan (CCP) has sought public help detecting market collusions. Cartels are formed when suppliers coordinate or enter into agreements to fix prices and control supply, all for unjustified gains and illicit profits, which is illegal. To ensure the provision of better-quality goods and services at fair prices to consumers, the commission asserts that it is essential that all suppliers in the market compete with each other by offering better services and products at better prices, rather than colluding to fix prices. Engaging in agreements or understandings to control prices or supply of goods and services for unjustifiable profits is a serious crime under the Competition Act 2010, the CCP warned on Monday.