Former Finance Minister Dr Salman Shah said Wednesday that no sustained higher economic growth is possible without strengthening a competition regime in the country. He was addressing on the last day of two-day international conference on Challenges in Implementing Competition Laws in developing countries ended on the note that the civil society, media and government would have to show commitment in fully implementing competition law for accelerated growth.
Dr Shah said monopolies are always harmful even to those availing temporary benefits out of it. He further added that the monopolies faced tough competition from the foreign products during last decade. According to him, monopolies have to be dismantled through effective competition law to ensure fair competition.
Speaking on the occasion, Chairman CCP Khalid Mirza said that since non-competitive behaviour is a norm in developing countries it is absolutely essential to create awareness about free and fair trade through advocacy. He said the civil society, media and the businessmen should play their due role in this regard. "Strong groups affected by CCP surveillance against non-competitive practices spread disinformation on competition law".
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