By Omer Bilal ISLAMABAD, Feb. 08 (INP-WealthPK)- The Competition Commission of Pakistan (CCP) in line with its mandate to promote healthy competition for an efficient and sustainable economy, strives to create a level playing field for all economic players. The CCP works to enhance economic efficiency by ensuring optimal use of resources and protecting consumers from anti-competitive practices. The CPP in pursuance of economic growth and healthy competition in different sectors of the market, imposed fines of Rs43.74 billion in calendar year 2021, Rs1,250,000 in 2020, and Rs290.5 million in 2019 on the violation of CCP rules. The CPP works to ensure free competition in all domains of commercial and economic activity, enhance economic efficiency and protect consumers from anti-competitive practices, such as deceptive marketing. The commission has been monitoring poultry, automobile, real estate, education, edible oil, accountancy, power, packaging, steel, retail, aviation, print media, batteries, courier services, pharmaceutical, paints, insurance, banking and finance, health, oil and gas, ports and shipping, telecom, cement, sugar and fabric sectors. From July 2020 to June 2021, the CCP completed 20 enquiries, initiated 21 new enquiries, conducted 12 search and inspections, and issued 120 show-cause notices. In the same period, the CCP issued two policy notes to the government in the sugar and wheat sectors, and processed 49 mergers and acquisitions and 40 exemption applications. Under the Competition Ordinance, if contravention of any provision of Chapter II of the Ordinance is proven, a penalty amount not exceeding Rs50 million or an amount not exceeding 15 percent of the annual turnover of the undertaking; for non-compliance of any order, notice or requisition of the Commission, an amount not exceeding Rs1 million; for knowingly abusing, interfering, impeding and obstructing the process of the Commission in any manner, an amount not exceeding Rs1 million as may be decided in the circumstances of the case by the Commission; and a continuing violation of the order of the Commission, a penalty of a further sum which may extend to Rs million for every day after the first such violation may be imposed. To cope with consortiums based on inequality, the Commission established an informal think-tank, to solicit feedback and guidance on competition-related matters from representatives of sector-specific regulators, relevant professional bodies, business associations and the private sector. The Commission discourages any cartelisation or monopoly even undertaking to enter into an agreement in respect of the production, supply, distribution, acquisition or control of goods or the provision of services which have the object or effect of preventing, restricting or reducing competition within the relevant market unless exempted under Section 5 of the Act. The CCP has initiated the process of hiring sectoral specialists in around 12 sectors, i.e., automobile, cement, energy (electric power and renewable energy), ghee/cooking oil, sugar, wheat, banking, pharmaceutical, poultry, education, road construction, and steel.