Finance minister lauds CCP's for ‘reducing pending court cases'
Addressing the Senate, the finance minister requested the chairman Senate Standing Committee on Finance and Revenue, to invite Dr Kabir Sidhu, Chairman CCP, for a detailed briefing to appreciate the true extant of reforms undertaken by the commission.
He informed the house that over the past two years, the CCP's new management actively pursued litigation in various courts, which resulted in reducing the backlog of cases from 577 to approximately 300.
Responding to a motion moved by Senator Mohsin Aziz, the minister emphasised that a transparent and robust regulatory framework is essential in a market-based economy to foster competition and ensure accountability. In this context, he highlighted CCP's recent performance as crucial and deserving of support.
He shared that the CCP issued 11 major orders in the past year alone, imposing fines exceeding Rs1 billion. Of this amount, approximately Rs120 million has already been recovered.
The inquiry process has been expedited, the issuance of show-cause notices has become more efficient, and the overall hearing mechanism has improved to ensure timely action against violators.
The minister further stated that CCP's Cartels Department completed 20 inquiries during the current fiscal year, while the Office of Fair Trade finalised 13 investigations related to misleading advertisements and deceptive marketing. These investigations have led to the issuance of show-cause notices and the initiation of formal hearings, he said.
He also informed the Senate about the establishment of a dedicated Market Intelligence Unit within the CCP, which proactively monitors market distortions, price manipulation, and other potential violations of competition law.
The minister said that the unit has so far identified 170 potential violations across sectors such as banking, e-commerce, telecom, and real estate, with 28 inquiries already initiated.
CCP tells Aurangzeb: 23 major actions taken against cartels and cos
Highlighting the CCP's role in facilitating investment, he said that the commission Mergers Department approved 69 transactions during the current year, resulting completion of transactions worth $30 million in foreign direct investment (FDI). Moreover, the Exemptions Department granted 83 exemptions, helping to ease business operations.
He added that a Centre of Excellence has also been established within the Commission to conduct research and data-driven analysis of various market sectors.
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Business Recorder
8 hours ago
- Business Recorder
Finance minister lauds CCP's for ‘reducing pending court cases'
Federal Minister for Finance Muhammad Aurangzeb expressed satisfaction over the performance of the Competition Commission of Pakistan (CCP), saying the commission's had brought significant improvements, particularly in reducing the number of pending court cases. Addressing the Senate, the finance minister requested the chairman Senate Standing Committee on Finance and Revenue, to invite Dr Kabir Sidhu, Chairman CCP, for a detailed briefing to appreciate the true extant of reforms undertaken by the commission. He informed the house that over the past two years, the CCP's new management actively pursued litigation in various courts, which resulted in reducing the backlog of cases from 577 to approximately 300. Responding to a motion moved by Senator Mohsin Aziz, the minister emphasised that a transparent and robust regulatory framework is essential in a market-based economy to foster competition and ensure accountability. In this context, he highlighted CCP's recent performance as crucial and deserving of support. He shared that the CCP issued 11 major orders in the past year alone, imposing fines exceeding Rs1 billion. Of this amount, approximately Rs120 million has already been recovered. The inquiry process has been expedited, the issuance of show-cause notices has become more efficient, and the overall hearing mechanism has improved to ensure timely action against violators. The minister further stated that CCP's Cartels Department completed 20 inquiries during the current fiscal year, while the Office of Fair Trade finalised 13 investigations related to misleading advertisements and deceptive marketing. These investigations have led to the issuance of show-cause notices and the initiation of formal hearings, he said. He also informed the Senate about the establishment of a dedicated Market Intelligence Unit within the CCP, which proactively monitors market distortions, price manipulation, and other potential violations of competition law. The minister said that the unit has so far identified 170 potential violations across sectors such as banking, e-commerce, telecom, and real estate, with 28 inquiries already initiated. CCP tells Aurangzeb: 23 major actions taken against cartels and cos Highlighting the CCP's role in facilitating investment, he said that the commission Mergers Department approved 69 transactions during the current year, resulting completion of transactions worth $30 million in foreign direct investment (FDI). Moreover, the Exemptions Department granted 83 exemptions, helping to ease business operations. He added that a Centre of Excellence has also been established within the Commission to conduct research and data-driven analysis of various market sectors.
Express Tribune
12 hours ago
- Express Tribune
PSX at peak as traders win support
Foreign institutional investors were net buyers of Rs37.6 million worth of shares during the trading session. PHOTO: AFP Listen to article The Pakistan Stock Exchange (PSX) soared to a new all-time high on Tuesday, driven by investor confidence following a high-level meeting between business leaders and Army Chief Asim Munir, where assurances of institutional support for economic progress were given. The government's success in securing a majority in Senate elections, optimism surrounding the State Bank of Pakistan's (SBP) expected monetary easing and forecasts of robust corporate earnings further reinforced the market rally. The benchmark KSE-100 index surged to intra-day high of 1,684 points, before settling at 139,419.62, an increase of 1,202.03 points, or 0.87%. According to Ahsan Mehanti of Arif Habib Corp, stocks traded at a new all-time high after business leaders met with army chief and were assured of the military's support for economic progress. Additionally, the government won a majority in Senate seats, further bolstering the bullish sentiment. Speculation about the SBP's anticipated policy easing next week, alongside expectations of handsome financial results and annual payouts, fuelled the bullish activity at the PSX, he said. In its review, Topline Securities commented that bulls roared back to life in Tuesday's trading session, lifting the benchmark index to impressive levels. The index surged to intra-day high of 1,684 points, before closing at 139,420, reflecting a solid gain of 1,202 points. The rally was fuelled by positive investor sentiment and renewed market confidence, ahead of the anticipated announcement of robust corporate results. This wave of optimism helped paint a bullish picture across the board, setting the tone for a potentially upbeat week ahead, it said. Key movers of the day were Engro Holdings, HBL, Fauji Fertiliser Company (FFC), Engro Fertilisers, Pakistan Petroleum and Oil and Gas Development Company, which together contributed 1,142 points to the index. Trading activity remained vibrant, with total volumes hitting 629 million shares and traded value reaching Rs34.7 billion, Topline added. In its commentary, Arif Habib Limited (AHL) noted that a one-sided price delivery from the 137,200-138,200 zone would now trigger a move towards the weekly draw at 140,500 points. Some 59 shares rose while 39 fell, with Engro Holdings (+5.24%), HBL (+4.42%) and FFC (+1.45%) contributing the most to index gains. On the flip side, UBL (-0.95%), Pakistan Services (-9.67%) and Systems Limited (-1.35%) were the biggest drags, it said. AHL mentioned that according to SBP data foreign companies operating in Pakistan repatriated over $2 billion in profits and dividends in FY25. "Momentum remains strong, with the KSE-100 holding the first offered support zone. This bodes well for the remaining week," it added. Senior analyst Ali Najib stated that post-Monday's negativity, trading resumed on a buoyant note in the morning. The fertiliser sector led the show on Tuesday as Engro Holdings, Fauji Fertiliser and Engro Fertilisers saw hefty buying since the opening bell on expectations of strong results along with higher-than-anticipated dividend payouts. In addition, robust buying interest was seen across key sectors, including commercial banks, cement, oil and gas exploration, oil marketing companies, power generation and refineries, reflecting broad-based investor confidence and sector-wide optimism, Najib said. The 137,000 level now acts as key support for the KSE-100, driven by improved earnings and foreign inflows. A drop below may take the index to 135,000, where attractive valuations and policy easing hopes could spark renewed buying, he added. Overall trading volumes increased to 629 million shares compared with Monday's tally of 608.2 million. Traded value stood at Rs34.7 billion. Shares of 478 companies were traded. Of these, 268 stocks closed higher, 178 fell and 32 remained unchanged. First Dawood Properties was the volume leader with trading in 44.1 million shares, gaining Rs1 to close at Rs7.64. It was followed by WorldCall Telecom with trading in 26.4 million shares, falling Rs0.01 to close at Rs1.46 and Pakistan Telecommunication Company Ltd with 24.9 million shares, rising Rs0.91 to close at Rs23.96. During the day, foreign investors sold shares worth Rs375.5 million, the National Clearing Company reported.
Business Recorder
15 hours ago
- Business Recorder
PSX witnesses robust rally
KARACHI: Pakistan Stock Exchange surged on Tuesday as investor sentiment strengthened. Confidence rose after a meeting between business leaders and Field Marshal Asim Munir coupled with the government's Senate majority win further eased political uncertainty. The benchmark KSE-100 Index surged by 1,202 points or 0.87 percent to close at 139,419.62 points, up from the previous day's close of 138,217.58. During intraday trading, the index touched a high of 139,901.78 and the low of 138,197.81 points before settling with strong momentum. On Tuesday, BRIndex100 closed at 14,344.60 points which was 205 points or 1.45 percent higher than previous close. The total volume remains 437.04 million shares. Also the BRIndex30 closed at 39,750.82 points which was 423.86 points or 1.08 percent higher than previous close with the total volume remaining 190.89 million shares. According to Topline Securities, the bulls roared back to life in Tuesday's trading session, lifting the benchmark index to impressive levels. It further noted that the rally was fuelled by positive investor sentiment and renewed market confidence, as the index moved upward ahead of the anticipated announcement of strong corporate results. This wave of optimism helped paint a bullish picture across the board, setting the tone for a potentially upbeat week ahead. The surge in buying was accompanied by increased trading activity. Total volume in the ready market stood at 629 million shares, up from 608 million of yesterday, while traded value also jumped to Rs 34.67 billion from Rs 23.52 billion in the previous session. Among volume leaders, First Dawood Properties led the board with 44 million shares traded, closing at Rs 7.64. WorldCall Telecom followed with 26.4 million shares and closed at Rs 1.46, while PTCL recorded a turnover of nearly 25 million shares and settled at Rs 23.96. In terms of gains, Unilever Pakistan Foods emerged as the top performer, soaring by Rs 2,279.22 to close at Rs. 27,777.22, while Nestlé Pakistan added Rs 45.45 to finish at Rs. 7,445.45. However, PIA Holding Company Limited-B plunged by Rs 3,101.53 to close at Rs 27,913.79, and Pakistan Services Limited declined by Rs 117.42 to settle at Rs 1,097.22. Market capitalization rose from Rs. 16.505 trillion to Rs. 16.629 trillion, reflecting the addition of Rs 124 billion to the market cumulative capital price. Out of 478 companies traded on the ready counter, 268 advanced, 178 declined, and 32 remained unchanged — showcasing a strong bullish breadth across the board. The BR Automobile Assembler Index closed at 22,626.13 points after gaining 49.69 points, reflecting a 0.22 percent increase, with a total turnover of 5.27 million shares. The BR Cement Index climbed to 10,714.73 points, marking a rise of 28.86 points or 0.27 percent, as over 35 million shares changed hands during the session. The BR Commercial Banks Index registered a modest gain, adding 96.63 points or 0.24 percent to settle at 40690.84 points, with turnover reaching 58.69 million shares. The BR Power Generation and Distribution Index ended the day at 21,486.47 points, having advanced 52.86 points or 0.25 percent, while total traded shares stood at 21.37 million shares. Meanwhile, the BR Oil and Gas Index concluded at 12,100.68 points after a robust gain of 208.06 points or 1.75 percent, supported by a turnover of 43.72 million shares. The BR Technology and Communication Index saw a slight increase of 4.55 points or 0.15 percent to close at 2,995.94 points, with 86.23 million shares traded. According to Ahsan Mehanti of Arif Habib Corporation, stocks were trading at new all-time highs after the business leaders' meeting with Field Marshal Munir assured the military's support for economic progress, while the government's Senate majority helped bolster investor confidence. He noted that speculation over possible monetary easing by the State Bank of Pakistan next week, alongside expectations of strong financial results and generous annual payouts during the earnings season, played a catalytic role in sustaining bullish activity at the PSX. Copyright Business Recorder, 2025
