Competition Commission of Pakistan (CCP) Chairperson Ms. Rahat Kaunain Hassan, along with her team visited the Overseas Investors Chamber of Commerce & Industry (OICCI) to hold an interactive session with OICCI member companies and discuss the CCP Act 2010 and its Road Plan.
While welcoming the delegation, OICCI President Naved A. Khan said, “This forum is part of OICCI’s initiative to increase interaction between the Commission and foreign investors and we believe it will enable members of OICCI to familiarise with the relatively new CCP Act 2010. It will also provide an opportunity to participants for discussing the framework provided for a better and healthy business climate”.
The CCP delegation gave extensive insight into the functioning of the Commission and gave detailed presentations on the salient features of the CCP Act 2010, including the Leniency Regime, the Voluntary Competition Compliance (VCC) Code, the Reward Payment Scheme and Merger Control Regime. CCP shared that under the VCC Code, they have already enlisted five companies. The CCP members shared that under the Leniency Regime, the Commission reduces penalties issued against violators, if they cooperated with CCP during investigations in breaking cartels.
According to CCP, their Leniency Regime is the only such regime in the world which allows parties to claim leniency even after the order has been passed. Mergers Acquisitions and International Affairs, CCP Member Dr. Joseph Wilson shared that CCP’s Merger Control system is based on best global practices and stipulates mandatory procedures for review and clearance of mergers and acquisition and
other measures.
