The Competition Commission of Pakistan (CCP) has called on the general public and stakeholders to report any instances of cartelization, announcing rewards of Rs. 200,000-2,000,000 for anyone who submits information and evidence about such illegal practices.
In a statement, the CCP stressed that the identity of any informants would be kept confidential. It said any potential informants could reach out via phone, email or through the CCP’s official website. If the information is verified, it said, not only would the informant receive a reward, but would also be recognized as a national hero.
Noting that business cartelization in markets enabled an artificial increase in the prices of goods and services in Pakistan, as well as a decline in product quality, the CCP said cartelization occurs when suppliers coordinate to fix prices for goods and services and control the supply for unjustifiable gains and illicit profit. This, it emphasized, is an illegal practice.
To ensure the provision of better-quality goods and services at fair prices to consumers, read the statement, all suppliers must compete through their services and prices rather than colluding to fix prices. Engaging in agreements or understandings to control prices or supply of goods and services for unjustifiable profits is a serious crime under the Competition Act, 2010.
The CCP said its rewards for any information about cartelization aimed to promote public participation in eliminating illegal business practices. The scheme, it said, provided a legal avenue for informants, and further encouraged the public to protect the country’s economy and their economic rights.
The CCP said its mandate was to promote fair competition in the economy, ensuring every Pakistani has access to quality goods and services at fair prices. It urged all citizens to join it in identifying bad actors and supporting the protection of consumer rights and a transparent business environment.