ISLAMABAD: The Ministry of Finance is reportedly waiting for the retirement of a well connected bureaucrat for appointment as Chairperson of the Competition Commission of Pakistan (CCP), reliable sources told media.
The position has remained vacant since Dr Kabir Ahmed Siddu left the CCP to join the Securities and Exchange Commission of Pakistan (SECP).
Following his departure, the commission is facing administrative uncertainty, as no look-after charge has been formally assigned in accordance with the CCP Act.
Sources said the delay in appointing a new chairperson is hampering regulatory proceedings, constitution of benches, and issuance of decisions in completed inquiries. Meetings of the commission cannot be convened for enforcement actions on anti-competitive practices, nor can key administrative and financial matters be finalized.
Officials cautioned that any exercise of the chairperson’s powers without formal appointment could lead to legal complications, as such authority can only be delegated by the federal government through a lawful nomination under the Competition Act, 2010, which clearly prescribes the procedure for appointing the chairperson.
The International Monetary Fund (IMF) mission, currently in Pakistan for consultations with various stakeholders, has consistently emphasized the independence and effective functioning of regulatory bodies.
Competition regulation is considered a specialized domain, as the CCP is responsible for curbing cartelization, approving mergers and acquisitions, preventing abuse of dominant position, and addressing deceptive marketing practices.
The commission also grants exemptions where credible evidence suggests that a non-competitive arrangement would yield net economic or consumer benefits.
Sources warned that continued delay in appointing a chairperson in accordance with the law could have adverse implications for the economy and undermine efforts to ensure a fair and competitive business environment.
ISLAMABAD: The Ministry of Finance is reportedly waiting for the retirement of a well connected bureaucrat for appointment as Chairperson of the Competition Commission of Pakistan (CCP), reliable sources told media.
The position has remained vacant since Dr Kabir Ahmed Siddu left the CCP to join the Securities and Exchange Commission of Pakistan (SECP).
Following his departure, the commission is facing administrative uncertainty, as no look-after charge has been formally assigned in accordance with the CCP Act.
Sources said the delay in appointing a new chairperson is hampering regulatory proceedings, constitution of benches, and issuance of decisions in completed inquiries. Meetings of the commission cannot be convened for enforcement actions on anti-competitive practices, nor can key administrative and financial matters be finalized.
Officials cautioned that any exercise of the chairperson’s powers without formal appointment could lead to legal complications, as such authority can only be delegated by the federal government through a lawful nomination under the Competition Act, 2010, which clearly prescribes the procedure for appointing the chairperson.
The International Monetary Fund (IMF) mission, currently in Pakistan for consultations with various stakeholders, has consistently emphasized the independence and effective functioning of regulatory bodies.
Competition regulation is considered a specialized domain, as the CCP is responsible for curbing cartelization, approving mergers and acquisitions, preventing abuse of dominant position, and addressing deceptive marketing practices.
The commission also grants exemptions where credible evidence suggests that a non-competitive arrangement would yield net economic or consumer benefits.
Sources warned that continued delay in appointing a chairperson in accordance with the law could have adverse implications for the economy and undermine efforts to ensure a fair and competitive business environment.
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