The Global Competition Review, the world’s leading antitrust and competition law journal and news service, has granted Pakistan a 3-star rating in the annual ranking of the world’s top antitrust and competition authorities.
The rating brings Pakistan at par with the competition authorities of Turkey, Portugal, Switzerland, Sweden, Singapore, Poland, New Zealand, Mexico and Austria. Pakistan and India are the only two countries from South Asia to have been included in the Rating Enforcement 2016, with the Competition Commission of India (CCI) being downgraded to a 2-star rating.
GCR publishes independent, renowned signature surveys including the GCR 100 and Rating Enforcement. The GCR 100: a guide to the world’s leading competition law and economics practices provides readers with extensive qualitative analysis of antitrust groups in jurisdictions around the world, according to the GCR’s official website.
Finance Minister Ishaq Dar greeting the Commission for its upgradation, saying it was an
evidence of the international confidence and trust in the policies pursued by the Commission for ensuring fair competition, transparency and good governance.
CCP is an independent quasi-regulatory, quasi-judicial body that helps ensure healthy competition between companies for the benefit of the economy. It was established in October 2007 under the Competition Ordinance, 2007. Prior to that, Pakistan had an anti-monopoly law namely ‘Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance’ (MRTPO) 1970. The Monopoly Control Authority (MCA) was the organization to administer this Law.