The Competition Commission of Pakistan (CCP) today urged the Lahore Chamber of Commerce and Industry (LCCI) to establish a voluntary compliance regime to foster fair market practices, a proposal met with a call from the business body to formalise cooperation through a Memorandum of Understanding (MoU).
The dialogue took place during an awareness seminar organised by the CCP at the LCCI premises, aimed at educating the business community on the substantive provisions of competition law. The programme focused on core areas including the abuse of a dominant market position, prohibited agreements like cartelisation, deceptive marketing practices, and regulations surrounding mergers and acquisitions.
Leading the regulatory delegation, CCP Chairman Farid Ahmad Tarar stressed that market distortions harm both businesses and consumers. He highlighted the Commission”s ongoing efforts to modernise its enforcement framework, which includes automating complaint mechanisms and developing new guidelines for emerging sectors such as e-commerce.
In his address, LCCI President Faheem ur Rehman Saigol commended the CCP”s outreach initiative and underscored the necessity of strengthening linkages with the business community. He noted that healthy competition is vital for a vibrant and sustainable economy and formally proposed solidifying their cooperation through an MoU to ensure regular engagement.
Echoing the call for sustained dialogue, Senior Vice President Tanveer Ahmad Sheikh and Vice President Khurram Lodhi suggested holding regular advocacy sessions, potentially on a monthly basis. They also proposed the designation of specific focal persons from both organisations to improve coordination and collaboration.
Senior CCP officials, including Director General Dr. Ikram ul Haq, Director and Commission Secretary Marryum Pervaiz, and Director Maliha Quddus, delivered detailed presentations. They offered practical insights into the key provisions of the Competition Act, clarifying compliance requirements related to market dominance, prohibited agreements, and deceptive marketing.
The seminar, also attended by LCCI Secretary General Shahid Khalil and numerous Executive Committee members including Irfan Ahmad Qureshi, Amir Ali, and Mohsin Bashir Ali, concluded with an interactive question-and-answer period. The engagement highlighted the business community”s strong interest and reinforced the importance of continued dialogue between the regulator and the industry.