Islamabad High Court reserves verdict in fertilizer price fixing case after the arguments of the lawyers of the concerned parties were completed, reported 24NewsHDTV Channel.
Justice Saman Riffat Imtiaz heard the case. Lawyers of fertilizer companies and Competition Commission of Pakistan presented arguments.
Lawyers of fertilizer companies contended that companies' cost information is confidential, which cannot be provided to the Competition Commission. While lawyer of Competition Commission told the court that as per SECP regulations, all companies were required to submit cast audit to SECP.
Competition Commission lawyer said companies also provide this information to SECP. The Competition Commission had launched an inquiry against fertilizer companies for increasing fertilizer prices. The Competition Commission had sought details from fertilizer companies in this regard.
Fertilizer companies had approached the High Court and obtained a stay order instead of submitting a response to the commission. The court reserved its decision after hearing the arguments of the lawyers of the parties.