CCP Imposes Penalty On Private, Public Sectors Companies

ISLAMABAD, (UrduPoint / Pakistan Point News - 29th Sep, 2016 ) :The Competition Commission of Pakistan (CCP) has imposed penalty on different private and public sector companies for indulging in deceptive marketing practices in violation of Competition Act, 2010.

The CCP imposed penalty on Banking and finance, telecom, Agriculture and education sector organization to stop the mal- business practices and maintain transparency in the market, an official of CCP told APP here on Thursday.

Before Competition Commission of Pakistan (CCP) conducted neutral inquiry for maintaining transparency in market. The CCP has imposed Rs. 30 million,Rs.25 millions, Rs .87 million, Rs. 374 Million, Rs.562 million,Rs.1272, Rs.50 million,Rs.

5 million, Rs. 5 million, Rs. 1 million , Rs. 189 million on Pakistan Banks Association, Habib Bank Limited,Allied Bank Limited, Al- Abbass Cement, Attock Cement, Bestway Cement,Lucky Cement,Pakistan Poultry Association (PPA) University of Faisalabad, University of South Asia, Telenor LDI Communications and Talcard respectively.

Replying to a question, he said that CCP is mandated under the Competition Act, 2010 to ensure fair competition in all spheres of commercial and economic activity. He said that CCP is committed to maintain transparency for enhancing economic efficiency and to protect consumers from anti- competitive practices including deceptive marketing.

He said the CCP continues to work towards promoting a healthy competition in all spheres of commercial and economic activity and to protect consumers from anti-competitive behavior.