The Competition Commission of Pakistan (CCP) inspected the offices of two companies suspected of fixing and circulating freight charges among its members. The investigation into the prima facie violations of Section 4 of the Competition Act, 2010. the CCP office inspection take place on Wednesday in order to suspect the price hike.
The office bearers of the undertakings fully cooperated with the CCP’s search teams. The team handed over the documents. The computer-stored information relating to the suspected role of the respective undertakings in alleged anti-competitive activities.
Two different teams of authorized officers entered and searched the premises of the respective undertakings and seized pertinent information.
The Commission found that the freight lists containing rates violated the Act when they looked at it. This was on the part of the respective undertakings during the initial fact-finding and information gathering.
CCP commission indicated that these companies have been sharing rate lists. The border level price change was responsible for the price hike and changes. This seems like a violation of Section 4 of the Act.
The CCP is mandated under the Act to ensure free competition in all spheres of commercial and economic activity, enhance economic efficiency and protect consumers from anti-competitive practices, including fixation of prices of various goods and services.
The CCP is mandated under the Act to ensure free competition in all spheres of commercial and economic activity, enhance economic efficiency and protect consumers from anti-competitive practices, including fixation of prices of various goods and services.
for more details visit: https://cxonews.live/
