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CCP ensuring free competition in all spheres, Senate told
Islamabad: The Senate was informed Friday that Competition Commission of Pakistan is ensuring free competition in all spheres of commercial and economic activity to enhance efficiency and to protect consumers from anti competitive behaviour.
Minister of State for Finance Saleem H. Mandviwala told the House during question hour that the commission has taken a number of preemptive measures to prevent cartelization and has taken action against 298 undertakings for cartelization in sectors that are consequence to ordinary people and against persons with power and influence.
To another question, the Minister of State said that the commission took a number of steps for the protection of consumers and fined different sectors to control the cartel.
He said the commission has fined 6.3 billion rupees to cement manufacturers to control the cartel and the result the cement prices were reduced.
He said in a same way Jute mills were fined 23 million rupees and 50 million rupees was fined each to Poultry Association, Ghee Mills Association and Banks against ATM cash withdrawal charges.
He said as the result the prices of these items were controlled and reduced.