Minister of State for Finance and Revenue Ali Pervaiz Malik has said competitiveness in markets is vital for protecting consumer interests, encouraging new startups and attracting investments.

He was addressing officials of the Competition Commission of Pakistan in Islamabad today.

The Minister of State underscored the role of the Commission in checking market failure and protecting consumers from anti-competitive practices. He emphasized the need for a comprehensive review of the Competition Act to ensure it remains modern, effective, and relevant as well as to address the challenges being faced by the Commission.

Ali Pervaiz Malik said the government is committed in bolstering the Commission’s capacity to increase its effectiveness, whether through legislative reforms, follow-up on court cases or capacity-building initiatives.

Speaking on the occasion, Competition Commission of Pakistan Chairman Dr. Kabir Ahmed Sidhu briefed the Minister of State on Commission’s role, including its functions, performanc
e, and ongoing inquiries in important sectors of the economy.

Source: Radio Pakistan