Prime Minister Syed Yousaf Raza Gilani said government’s new growth framework identifies competitive markets as the starting point to increase efficiency and bringing about innovations to promote and sustain economic growth. He said this while addressing 2nd international conference organised by Competition Commission of Pakistan (CCP) in collaboration with Competitiveness Support Fund and USAID. Prime Minister praised CCP for being quite active since its inception in addressing manipulation of the local markets.
And like most countries, it has also faced opposition as it has challenged powerful vested interests. “Nevertheless, the commission enjoys continued support and acknowledgment of the government”. He said government recognised the importance of competition law and CCP and it could be judged from the fact that the Competition Ordinance of 2007 was re-promulgated twice to ensure continuity of the commission’s important work. “Because of our efforts and resolve to institute competition as the law of the land, the ordinance was given approval as an act of the parliament in October 2010”. Prime Minister said international recognition and evaluation is a valuable barometer for judging performance of an entity. “I am pleased to learn that the commission was chosen and given a fair rating this year by the Global Competition Review. This international recognition and feedback, I am sure, would help competition commission in transcending to global standards of excellence.” Prime Minister said he was aware that due to the critical matter of funding the commission’s operations remain unresolved.
“Let me take this opportunity to assure you that in the same manner the democratic government supported the passage of the law through the Parliament, it will focus attention on providing the commission a secure source of funding to carry on its important work.” Finance Minister Abdul Hafeez Shaikh said Pakistan was the most business friendly country of the region offering a number of incentives to the investors. He said the government encouraged foreign investment and there were no trade barriers in the way of foreign investment. He said private sector was the engine of growth of any country’s economy and it was government’s responsibility to ensure appropriate measures along with provision of best possible policies, services and resources to facilitate the private sector for promotion of economic growth and job creation. He also reiterated government’s commitment towards strengthening the CCP by resolving the pending issue of three per cent fee.
