Big brokers manipulating bourses: CJ

BHURBAN - The enactment of the Competition Ordinance, 2007 has replaced the monopolies and Restrictive Trade Practices, Chief Justice of Pakistan (CJ) Abdul Hameed Dogar said.

He said this while addressing the economic experts in a seminar titled, ‘The Importance of Competition Regime’ organized by the Competition Commission of Pakistan on Monday.

He said that significant developments in competition law and policy had taken place around the world during the last 20 years.

He also informed that under the new law, the Competition Commission had been empowered to act in many situations that arose in the economic life of a country on a regular basis requiring it to protect consumers from anti competitive behavior against cartels, prohibited agreements and deceptive market practices.

He observed “from a wider perspective, unless we in Pakistan learn to compete with each other on a level playing field, economic growth dream could not be fulfilled,” while adding, “We find it very difficult to compete internationally too”.