Finance minister directs CCP to eliminate monopoly of cartels

Finance Minister Muhammad Aurangzeb on Tuesday directed the Competition Commission of Pakistan (CCP) officials to take solid steps to eliminate the monopoly of cartels in different markets, reported 24NewsHD TV channel.

During his visit to the CCP, the minister said the federal government would provide complete support to the commission for the purpose. “Use modern techniques and data to monitor the markets so that the companies, which are part of cartels, could be taken to the task,” he said, and directed the CCP to complete inquiries against groupings in the market as soon as possible. 

“I will talk to the FIA DG for the early forensic of the evidence found against cartels,” Aurangzeb said.

He assured the commission of the government’s complete support for its efforts to create a competitive environment in markets.

He stressed the need for automation to provide the CCP with a strong base.

The minister also asked the government departments to benefit from the commission’s different research reports. “The policy is clear that the government has nothing to do with the businesses which belong to the private sector,” Aurangzeb said.

“The CCP’s performance is quite better. However, we will make further improvements.” 

He said he would request Chief Justice of Pakistan (CJP) Justice Yahya Afridi to form special benches to hear the CCP-related cases. “I request the Supreme Court (SC) to assist in the cases involving the government’s revenue.”

Aurangzeb meets traders

A delegation headed by Chairman of Supreme Council All Pakistan Anjuman-e-Tajran Naseem Mir on Tuesday held a detailed meeting with Federal Minister for Finance Mohammad Aurangzeb in Islamabad. 

Federal Board of Revenue Chairman Rashid Mehmood Langarial was also present during the meeting.

Aurangzeb told the participants of the meeting that all retailers, and wholesalers will be brought into the tax net.

Mohammad Aurangzeb said that it is our national duty to pay taxes and for this purpose everyone has to pay tax.

He assured businessmen that government will take all measure to provide relief to small traders, while Naeem Mir said that business community will also extend full support to the government in this regard.

Reporter: Waqas Azeem