CCP hopes new govt to implement law
By Hina Kiyani

ISLAMABAD—The Competition Commission of Pakistan (CCP), which still faces crucial financial problems, has expressed the hope that new government would implement commission’s law in letter and spirit to enable it function smoothly for promoting positive business competition in the country.
“The previous government failed to implement the law which it passed in October 2, 2007,” chairman CCP Khalid A. Mirza told a section of press here. He was flanked by Member (Advocacy and Research), Maleeha Mimi Bangash.
He said that the law envisages independent commission to function independently with tide sources of funding to be generated by having share percentage of fees taken by the regulatory authorities. He said that conversion of Monopoly Control Authority (MCA) into strong Competition Commission was first suggested by Naveed Qamar (now Minister of Privatization) a few years back from opposition benches. Later the previous government itself moved a bill in this regard and passed the Competition law.
“Since the strong competition commission was envisaged by the present government itself so we hope it to implement the law,” Mirza remarked. “We have done our part of job by preparing regulations and terms and conditions, now its is governments turn to do its job by implementing the law, he added.
He said that CCP law was one of the best laws which has been acknowledged by world bodies however, it needed to be implemented in letter and spirit. He said the CCP had appointed commissioners in November 2, however it is unable even to provide salaries to them due to financial restraints.
He said that the government has so for provided only Rs.79 million to the commission which included seed money of Rs.50 million against the proposed budget of Rs. 99 million “Despite all these difficulties, the commission has been working to best of its potential,” he added.
He said that formation of Competition Consultative Group (CCG) was in final stages as the commission had already finalized the list of its members which would be made public soon, adding that first meeting of CCG would be conducting by the end of this month.
To a question regarding the cartelization of banks, he said that the commission has been engaged in preparing final order which would be made public in the second week of this month.
He said that the commission is likely to issue show cause notice to Karachi Stock Exchange, which is being alleged for dominance. The cause was being pursued on the complaint of Islamabad Stock Exchange alleging that KSE was not entertaining ISE orders, hence creating problems for investors.
He said that the commission has also consulted Securities and Exchange Commission of Pakistan (SECP) in this matter.