President Asif Ali Zardari on Friday re-promulgated the Competition Ordinance, giving protection to all decisions made by Competition Commission of Pakistan (CCP). Through Competition Ordinance 2009, all CCP decisions and orders, from February 2007 to November 26, 2009, have been duly protected. The orders issued by the CCP got validation through the promulgation of the Competition Ordinance 2009 here on Friday.
The Ordinance was due to expire on November 28, 2009 and its timely re-promulgation has given more time to the Commission for carrying out its functions and investigations against cartels and companies involved in collusive behaviour and deceptive marketing practices. When contacted, CCP Chairman Khalid Mirza thanked the President for timely re-promulgation of Competition Ordinance 2009.
"I am highly grateful to the President for timely promulgation of the Ordinance", he said. It would help in smooth functioning of the Commission for carrying out investigation against the cartels and monoplies involved in collusive behaviour and deceptive marketing practices, he added.
Mirza said: "We would continue to implement the Ordinance in letter and spirit to achieve productive efficiency so that business and enterprises flourish and also the consumer is protected from anti-competitive behaviour". When contacted, some legal experts said that the President was legally empowered to retrospectively re-promulgate the Ordinance. However, its timely re-promulgation had avoided legal complications pertaining to the orders and decisions taken by the CCP.
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