Latest news with #CompetitionCommissionofPakistan
Business Recorder
2 hours ago
- Business
- Business Recorder
CCP imposes Rs1bn in penalties on cartels and deceptive advertisers
ISLAMABAD: The Competition Commission of Pakistan (CCP) issued 12 major orders during FY 2024-25, imposing penalties worth Rs1.007 billion on businesses involved in anti-competitive practices across key sectors including fertilizers, poultry, automobiles, pharmaceuticals, real estate, food, hygiene products, paints, and education. The Commission has strengthened its enforcement arm and streamlined hearings by curbing unnecessary delays. This fast-track approach is helping CCP resolve cases swiftly and enforces the law more effectively. Out of the 12 orders issued, eight were related to deceptive marketing. Three orders involved cartelization and price fixing. One order was issued on the direction of the Lahore High Court to address the issue of CCP's jurisdiction in a case involving the deceptive and fraudulent use of a trademark under Section 10(2) of the Competition Act. In a landmark case, CCP fined six urea manufacturers and their trade group — Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC) — a total of Rs375 million for price-fixing. Each company was fined Rs50 million; the association was fined Rs75 million. Another major penalty of Rs155 million was slapped on eight poultry hatcheries for fixing prices of day-old broiler chicks. In deceptive marketing cases, Kingdom Valley was fined Rs150 million for false claims about its housing project. Unilever and Friesland Campina Engro were fined Rs75 million each for marketing frozen desserts as ice cream. Unilever also faced an additional Rs60 million penalty for deceptive ads for Lifebuoy products. Al-Ghazi Tractors was fined Rs40 million for false fuel efficiency claims. Hyundai Nishat Motors received Rs25 million fine for misleading ads about the Hyundai Tucson SUV. 3N Lifemed Pharmaceuticals was fined Rs20 million for using fake certification for dialysis machines. The fine was later reduced to Rs2 million by the Competition Appellate Tribunal (CAT). British Lyceum and Diamond Paints were fined Rs5 million each for publishing misleading advertisements. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Business
- Business Recorder
Tribunal upholds CCP's order against price fixing in home appliances sector
The Competition Appellate Tribunal has upheld the order of the Competition Commission of Pakistan (CCP) against leading electronic home appliances brands for engaging in resale price maintenance (RPM), a prohibited form of price fixing under the Competition Act, 2010, according to a CCP statement said on Thursday. While maintaining the findings of contravention, the tribunal reduced the monetary penalty imposed by the CCP to the tune of Rs90 million, directing the companies to deposit the amount within 30 days. The CCP had earlier imposed penalties on the companies after concluding that both the companies in the home appliances sector had engaged in anti-competitive conduct by restricting their dealers from selling products below specific prices, offering discounts, or providing package deals. CCP issues notices to PSMA, member sugar mills In their defence before the tribunal, the companies did not challenge the finding of contravention but argued that the penalty imposed was high. The tribunal noted that the appellants demonstrated remedial actions by reimbursing to the dealers the amounts which were imposed by the companies under their price fixing policy. It also assured strict future compliance with the Competition Act. Taking the mitigating factors into account — particularly cooperative stance and restitution to affected parties — the tribunal reduced the penalties imposed on both companies. The tribunal also noted the companies' commitment to lawful business practices going forward. The CCP urges all undertakings to refrain from all forms of price fixing, including the setting of minimum or maximum resale prices and imposing restrictions on discounts or promotional offers, as such practices constitute serious violations of competition law.
Business Recorder
6 days ago
- Business
- Business Recorder
CCP approves 69 M&A deals during FY2024-25
ISLAMABAD: The Competition Commission of Pakistan (CCP) approved a total of 69 merger and acquisition (M&A) transactions during the fiscal year 2024-25, facilitating foreign direct investment (FDI) inflows of approximately $50 million. These transactions spanned diverse sectors including food, finance, logistics, aerospace, media, and e-commerce, underscoring the CCP's critical role in promoting fair competition and enhancing investor confidence in Pakistan's economy. Prominent FDI transactions included a joint venture between NLC and DP World Logistics FZE, facilitated by SIFC, and the acquisition of Wemsol by Bazaar Technologies in the e-commerce sector. In agribusiness, Italy's Euricom S.P.A. acquired 50% of Fatima Euricom Rice Mills. The media sector saw Berkeley Square Holding BV acquire 50% stakes in Ogilvy & Mather, Mindshare, and Soho Square Pakistan. Additionally, Saudi firm Wakeb Data Company acquired an 80% stake in drone technology company Woot Tech. In addition to foreign investment transactions, the CCP approved 64 domestic M&A deals across sectors such as retail, services, logistics, energy, food, and manufacturing. Sector-wise, 25 transactions occurred in industrial and manufacturing, 14 in energy and power, 13 in services, 11 in financial services, five in consumer goods and retail, and one in real estate. Major domestic transactions included Asyad Holding's acquisition of 77.42% shares in Shell Pakistan via UAE-based Wafi Energy, marking a key move in the energy sector. Alfalah Asset Management took over fund management rights from Faysal Asset Management, while Sapphire Fibres and Mindbridge jointly acquired Uch Power and Uch-II Power. Other notable domestic transactions were PPR Holding A.S. acquiring full ownership of SadaPay Technologies, Nimir Industrial Chemicals acquiring assets of Procter & Gamble Pakistan, Naubahar Bottling Company acquiring bottling assets of JK Sugar Mills, and the merger of DWP Engineering Industries with Digital World Pakistan. Additionally, during FY2024-25, the CCP granted 38 conditional and time-bound exemptions under the Competition Act, 2010. These exemptions were awarded across multiple sectors including automotive, pharmaceuticals, consumer goods, food & beverages, energy, logistics, telecommunications, banking & finance, tobacco, aviation, and packaging. Copyright Business Recorder, 2025
Express Tribune
6 days ago
- Business
- Express Tribune
Merger deals bring $50m foreign investment
Listen to article The Competition Commission of Pakistan (CCP) approved a total of 69 merger and acquisition (M&A) transactions during fiscal year 2024-25, facilitating foreign direct investment (FDI) inflows of approximately $50 million. These transactions spanned diverse sectors including food, finance, logistics, aerospace, media and e-commerce, underscoring the CCP's critical role in promoting fair competition and enhancing investor confidence in Pakistan's economy, according to a statement issued on Tuesday. Prominent FDI transactions included a joint venture between National Logistics Corporation (NLC) and DP World Logistics, facilitated by the Special Investment Facilitation Council (SIFC), and the acquisition of Wemsol by Bazaar Technologies in the e-commerce sector. In agribusiness, Italy's Euricom acquired 50% of Fatima Euricom Rice Mills. The media sector saw Berkeley Square Holding acquire a 50% stake in Ogilvy & Mather, Mindshare and Soho Square Pakistan. Additionally, Saudi firm Wakeb Data Company acquired an 80% stake in drone technology company Woot Tech. In addition to foreign investment transactions, the CCP approved 64 domestic M&A deals across sectors such as retail, services, logistics, energy, food and manufacturing. Sector-wise, 25 transactions were made in the industrial and manufacturing category, 14 in energy and power, 13 in services, 11 in financial services, five in consumer goods and retail and one in real estate. Major domestic transactions included Asyad Holding's acquisition of 77.42% shares in Shell Pakistan via UAE-based Wafi Energy, marking a key move in the energy sector. Alfalah Asset Management took over fund management rights from Faysal Asset Management while Sapphire Fibres and Mindbridge jointly acquired Uch Power and Uch-II Power. Other notable domestic transactions were PPR Holding acquiring full ownership of SadaPay Technologies, Nimir Industrial Chemicals acquiring assets of Procter & Gamble Pakistan, Naubahar Bottling Company acquiring bottling assets of JK Sugar Mills and the merger of DWP Engineering Industries with Digital World Pakistan. Additionally, during FY25, the CCP granted 38 conditional and time-bound exemptions under the Competition Act 2010. These exemptions were given across sectors like automotive, pharmaceuticals, consumer goods, food & beverages, energy, logistics, telecommunications, banking & finance, tobacco, aviation and packaging.
Business Recorder
7 days ago
- Business
- Business Recorder
‘$50mn in FDI': CCP approves 69 merger and acquisition in FY2024-25
The Competition Commission of Pakistan (CCP) approved a total of 69 merger and acquisition (M&A) transactions during the fiscal year 2024-25, facilitating foreign direct investment (FDI) inflows of approximately $50 million, a CCP statement said on Tuesday. The transactions spanned diverse sectors, including food, finance, logistics, aerospace, media, and e-commerce, it added. 'Prominent FDI transactions included a joint venture between NLC and DP World Logistics FZE, facilitated by SIFC, and the acquisition of Wemsol by Bazaar Technologies in the e-commerce sector. FY2024-25: CCP ramps up enforcement against cartels, deceptive marketing In agribusiness, Italy's Euricom S.P.A. acquired 50% of Fatima Euricom Rice Mills. The media sector saw Berkeley Square Holding BV acquire 50% stakes in Ogilvy & Mather, Mindshare, and Soho Square Pakistan. Additionally, Saudi firm Wakeb Data Company acquired an 80% stake in drone technology company Woot Tech,' the statement read. In addition to foreign investment transactions, CCP approved 64 domestic M&A deals across sectors such as retail, services, logistics, energy, food, and manufacturing. Sector-wise, 25 transactions occurred in industrial and manufacturing, 14 in energy and power, 13 in services, 11 in financial services, five in consumer goods and retail, and one in real estate. Major domestic transactions included Asyad Holding's acquisition of 77.42% shares in Shell Pakistan via UAE-based Wafi Energy, marking a key move in the energy sector. Alfalah Asset Management took over fund management rights from Faysal Asset Management, while Sapphire Fibres and Mindbridge jointly acquired Uch Power and Uch-II Power, CCP said. 'Other notable domestic transactions were PPR Holding A.S. acquiring full ownership of SadaPay Technologies, Nimir Industrial Chemicals acquiring assets of Procter & Gamble Pakistan, Naubahar Bottling Company acquiring bottling assets of JK Sugar Mills, and the merger of DWP Engineering Industries with Digital World Pakistan.' Additionally, during FY2024-25, CCP said it granted 38 conditional and time-bound exemptions under the Competition Act, 2010. Two firms found guilty of Rs1.13bn anti-competitive pact in pharmaceutical sector 'These exemptions were awarded across multiple sectors, including automotive, pharmaceuticals, consumer goods, food & beverages, energy, logistics, telecommunications, banking & finance, tobacco, aviation, and packaging,' the commission said.
