Chairman of the newly formed Competition Commission of Pakistan (CCP) Khalid Mirza, assured the overseas investors of his organisations continued support for providing a level playing field for all stakeholders.
CCP Chairman visited the Overseas Investors Chamber of Commerce and Industry (OICCI) along with his two colleagues and held and interactive session with member companies representing various sectors. The aim of the meeting was to meet the members companies and listen to the views of the foreign investors over the newly promulgated Ordinance.
Mirza emphasised that "the law does not curtail growth by putting any restriction; rather it encourages growth by curtailing monopoly behaviour and promoting competition in the economy."
He explained that the Monopoly Control Authority (MCA), the predecessor the CCP did not give enough leverage to the regulators whereas the new law guarantees sufficient leverage to the regulators. "In order to use this leverage for the benefits of the economy, the feedback and recommendations of chambers such as the OICCI, would be helpful," said Mirza.
Speaking on the occasion, Waqar Malik, Vice President OICCI, appearance Mirza's initiative of seeking a dialogue with member companies of OICCI, who represent 14 per cent of the GNP of Pakistan. "We can play a major role by partnering with the CCP in ensuring a competitive economy and providing a level playing field for all the major stakeholders," said Malik.
This recent meeting with the business community is seen as a positive first step in the long series of consultation that is now expected to take place in order to make the ordinance beneficial to all the parties involved.-PR
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