Terming Competition Commission of Pakistan (CCP) as future of the globally competitive Pakistan, US Deputy Chief of Mission Ambassador Richard Hoagland said here on Monday that the CCP can play a key role in introducing economic reforms to create a favourable environment for attracting foreign investment in Pakistan.
He was sharing his views on the achievements of the CCP during his visit to the CCP and commended the Commission for its efforts to promote fair business competition, defend consumer rights, and push for economic reforms. CCP Chairperson Rahat Hassan led Ambassador Hoagland on a tour of CCP facilities and introduced him to CCP's young enforcement team which is dedicated to prohibiting corrupt activities such as collusive practices, abuse of market dominance, deceptive marketing, and illegitimate mergers and acquisitions.
Hoagland highly appreciated the Commission's team for having delivered so much in such a short time. He said that, "the CCP is the future of a globally competitive Pakistan." Hoagland stated that the US strongly supported the CCP for introducing reforms in the country which would attract foreign investment. The CCP should provide an attractive environment for the investors through economic reforms. "I am so inspired to see young Pakistanis leading this effort to make a positive difference in their country," said Richard Hoagland. "The work of the CCP is absolutely necessary for Pakistan to attract foreign investment and create a more stable Pakistani economy."
The United States Embassy has long supported CCP through conferences and training opportunities, and currently plans to send CCP staffers to the United States on exchange programmes to promote people to people ties, he added. In his interaction with the officers of the Commission, Hoagland evinced keen interest in knowing about the Commission's work and achievements. To one of his questions about the legal process in dealing with cases, he was informed that the Commission follows the due process and the parties concerned are given full opportunities of hearing, however, the parties usually abuse the process to delay the cases. There are large number of cases pending in the courts, however, it is hoped that with the constitution of Competition Appellate Tribunal, the cases would be resolved soon.
Chairperson Rahat Kaunain Hassan while speaking to Hoagland said the Commission has made numerous achievements in the short span of time. She said the passage of Competition Act, 2010 was a major achievement and the result of active advocacy on part of the Commission.
She said the Commission has made its mark as a vigilant government authority and combined with positive media exposure the private sector has started recognising the importance of competition law. "We are focused on enforcement as our priority, accelerating the pace of enforcement and busting various cartels such as cement sugar LPG, banks, poultry, edible oil and ghee, jute, and power sector equipment manufactures exposed, so far 14 search and inspections, 55 decisions, 293 mergers and 384 exemptions in a period of 4 and half years," she said adding "We recognise the importance of a law enforcement agency to be fair and to perform its duty without fear.
Rahat further told him that as a result of its good work, the Commission was nominated for GCR's agency of the year award for the Asia Pacific Middle East and African Region (out of 42 agencies nominated in top five). Furthermore, the Commission shifted office to a more accessible and visible area, resulting in substantial cost savings. Efficient management of recourses has led to 35% of savings in operational expenditures.
She said first ever independent evaluation of the Commission by the Global Competition Review for which the Commission submitted itself this year, resulted in a "fair" rating. The GCR lauded the Commission's inclusion in the rating as a testament to the fact that 'the Commission has established itself as a truly effective enforcer in 2010. "In 2011 GCR rating, we have been termed 'consistent' and that 'CCP continued to progress impressively in its second year in rating enforcement. It has been quoted that 'they are efficient and open to reason' ' for lawyers the Commission is a proof that an independent respective authority can exist in a developing country with significant economic and political challenges and they anticipate that it will go from strength to strength," CCP chairperson maintained.
She informed Hoagland that the Commission, in partnership with the Competitiveness Support Fund of the USAID, held an international conference in Islamabad titled Competition Enforcement Challenges and Consumer Welfare in Developing Countries.
Responding to various queries of US Deputy Chief of Mission Ambassador, Ikram-Ul Haq Qureshi, Director General (Legal)/Registrar informed that the CCP has been facing challenges like litigation in courts, limited budget and other challenges. One of the major challenges is to become financially independent. However, the CCP has been successfully overcoming these challenges by taking timely measures in all areas. In courts we have submitted strong investigative reports against the cartels. One of the challenges is to retain the existing team of professionals and qualified officers, which is only possible in the presence of sufficient budget for the commission. Ikram-Ul Haq Qureshi said that the CCP is also learning from the best competition jurisdictions like USA and EU for effectively pleading cases in courts.
The CCP Director General (Legal) further informed Hoagland that the search and inspections are the one effective tool to help gather this evidence and information; conducting a surprise search and inspection of the premises of undertakings/ association where there is most likelihood to find the material evidence. Ikram-Ul Haq Qureshi added that the effective enforcement of the law has also improved compliance by the business and trade to follow the competition laws in its true sprit.
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