CCP accuses SAB of misleading on stock figures

ISLAMABAD,: Federal Minister for Finance, Mr. Aurangzeb, was given a comprehensive briefing by the Competition Commission of Pakistan (CCP) on the challenges related to promoting competition in the sugar sector and the causes of the recent sugar crisis.
The meeting was attended by Advisor to the Finance Minister, Mr. Khurram Shehzad, Chairman CCP, Dr. Kabir Ahmed Sidhu, Registrar CCP, Mr. Shehzad Hussain, Legal Advisor, Mr. Hafiz Naeem, and Director Cartel & Trade Abuse, Mr. Salman Zafar, along with other senior officials.
During the briefing, Dr. Kabir Ahmed Sidhu informed the Finance Minister that CCP is preparing detailed recommendations to assist the Sugar Sector Reform Committee. He also apprised the Minister of the causes of previous sugar crises in 2008-09, 2015-16, and 2019-20, and shared the Commission’s findings and enforcement actions against cartelization in the sector.
The Finance Minister was informed that the CCP’s 2021 order against the sugar cartel had been remanded by the Competition Appellate Tribunal to CCP for a rehearing, and that the Commission has formulated a comprehensive strategy for its expeditious disposal.
Senator Aurangzeb assured full government support to the CCP for expediting court proceedings of pending cases and enhancing the institution’s operational capacity. He reaffirmed that a robust competition framework is essential for protecting consumer interests, ensuring market transparency, and sustaining economic growth.
The meeting also reviewed pending litigation, examined administrative and regulatory measures to stabilise the sugar market, and discussed proposals to strengthen CCP’s institutional capacity to promote economic efficiency, protect consumers, and ensure a transparent, competitive business environment.