The federal government has appointed Ms Rahat Kaunain Hassan as new chairperson of Competition Commission of Pakistan (CCP), Business Recorder has learnt. Sources told Business Recorder on Monday that Prime Minister Syed Yusuf Raza Gilani has appointed Kaunain as chairman of the CCP.
Being CCP Member Legal and head of the Office of Fair Trading (OFT), Ms Kaunain had issued landmark orders against the powerful lobbies and mafias giving a clear message to the companies involved in cartelisation and anti-competitive behaviour. Beside issuing numerous position papers, guidelines, policy notes regarding important issues of competition law and policy, she issued some of the most important orders passed by CCP including the one that resulted in breaking the most pernicious cartels in the cement and LPG sector.
The former chairman of the CCP Khalid A Mirza had moved a summary to the Ministry of Finance for appointing Ms Rahat as new chairman of the commission taking into account her professional and legal experience in the competition related issues. The PM has issued a formal order here on Monday for her appointment as new CCP chairman.
Sources said the government has accepted the recommendations of Khalid Mirza, which clearly indicate that the present political regime has endorsed the work of the CCP. Former CCP Chairman had repeatedly hinted that the government has ignored the CCP, but appointment of Ms Rahat as new CCP Chairman reflected government confidence in the present policies of the CCP for protection of the general consumers. Secondly, the timely approval by the PM also shows that the government is serious in dealing with the issues of consumer protection and actions against cartels.
When contacted, some senior CCP officials were confident that the Competition Ordinance would be timely approved by the National Assembly as the law would expire during August 2010, they added. Experts said the new CCP chairman would face big challenges including continuation of enforcement and legal actions against companies involved in wrong doings under the Competition Ordinance.
The new chairman of the CCP has to maintain the person image of the organisation, which acted as deterrence among the business and trade due to legal and enforcement actions of the CCP. The strategy of the new chairman for the approval of Competition Ordinance would also play a key role in the smooth functioning of the commission to minimise litigation in courts due to expiry of Ordinance next month.
The profile of new CCP Chairman revealed that Ms Rahat, Member (Legal and OFT), has an LL.B degree from the University of the Punjab and an LL.M degree from King's College London. She is a recipient of the coveted Britannia Chevening Scholarship and specialised in the Law of International Finance and International Business Transactions.
Before joining the Commission, she had over 15 years of practice as a corporate and commercial lawyer. She has been a partner at the international law firm, Amhurst Brown, in Islamabad and has also served at the Securities & Exchange Commission of Pakistan as General Counsel/Executive Director (Law and Securities Market Division).
Her tenure at the Securities & Exchange Commission of Pakistan coincided with the implementation phase of the Asian Development Bank-assisted Capital Markets Reform Programme which aimed at developing a fair, transparent and efficient regulatory environment. Her experience and interaction with leading corporations as legal adviser, coupled with the exposure she has acquired has provided her with a unique perspective on regulatory approaches to resolving issues confronting the corporate sector. Kaunain was a most deserving recipient of Women of Achievement Award, 2010 for eminent services in public sector. She has also been nominated for Sitar-e-Imtiaz.