Our clients belong to various different industries including telecommunication and FMCG goods. They have numerous legal issues with reference to competition law regulation. Ranging from mergers and acquisition to due diligence, we regularly represent our clients on this area of law.
Competition laws in Pakistan aim to ban anti-competitive agreements between firms such as agreements to fix prices or to carve up markets, and these laws also makes it illegal for businesses to abuse a dominant market position.
The governing act regulating Competition Laws in Pakistan is “The Competition Act, 2010”. It is a robust law which gives the Competition Commission of Pakistan legal and investigative instruments and powers to promulgate free competition in all spheres of commercial and economic activity, to enhance economic efficiency, and to protect consumers from anti-competitive behaviour. The Act is all-encompassing in Pakistan regardless of public or private ownership, and is applicable to all actions or matters that can affect competition in Pakistan. Although essentially an enabling law, it briefly sets out procedures relating to review of mergers and acquisitions, enquiries, imposition of penalties, grant of leniency and other essential aspects of law enforcement. Briefly, the law prohibits situations that tend to lessen, distort, or eliminate competition such as actions constituting an abuse of market dominance, competition restricting agreements, and deceptive marketing practices..