ISLAMABAD: Finance Minister Muhammad Aurangzeb has said that strict measures should be taken to eliminate cartelisation from various economic sectors and markets.
The minister spoke about the scourge of cartelisation during his visit to the Competition Commission of Pakistan (CCP) to review its performance.
Finance Minister Aurangzeb said that he would request the chief justice to form a special bench in the Supreme Court to hear competition-related cases. He would also request the Supreme Court for assistance in cases where government revenue is involved.
He said that just as Chief Justice Yahya Afridi helped in tax-related cases, he would also assist in CCP cases. He also suggested the CCP to seek the services of the country’s best lawyers to prosecute the cases.
The finance minister assured the CCP full support of the government to eliminate cartels.
He suggested the CCP to use modern techniques and data to monitor the markets, analyze market data and nab cartels. He urged the CCP to quickly complete the ongoing inquiries against colluders.
Aurangzeb said that he would soon talk to the FIA director general for forensic analysis of the evidence obtained against cartels. Cartelisation could end if various law enforcement agencies work jointly, he added.
He said that the CCP would be automated to better its working.
Minister Aurangzeb proposed government agencies to benefit from research reports of the CCP on various sectors.
The policy is clear, he said and added that the government would not involve in businesses that are meant for the private sector.
He expressed satisfaction on the performance of the CCP, but, “there’s always room for improvement. Make the commission more active,” he concluded.
IMF PROGRAMME
Earlier on Monday, Finance Minister Aurangzeb admitted before the National Assembly Standing Committee on Finance that there were hiccups in the implementation of the International Monetary Fund (IMF) programme but expressed the resolve that the government would complete the $7 billion programme.
He was briefing the committee as the opposition was demanding to disclose the assets of the military and the judiciary as part of the IMF condition. At present, only civil servants are required to make public their assets.
The ministry also revealed to the committee that it too failed to meet an IMF condition on debt maturity, further lengthening the queue of the departments that have so far failed to meet some of the IMF conditions.
