Competition (Amendment) Bill, 2009 has been presented before the National Assembly to amend the Competition Ordinance 2007.
In this regard, the Competition (Amendment) Bill, 2009 has proposed amendment of section 38 of the ordinance.
When the amendment Bill was moved before the Parliament, the Ministry of Finance sought viewpoint of the CCP on the proposed amendment.
The CCP has opposed the Competition (Amendment) Bill, 2009 with the plea that there is no need of further amendments in the Competition Ordinance 2007.
It is not the appropriate time to introduce such kinds of amendments, as penalties under the existing law are enough for smooth implementation of the new law.
The CCP had further informed the Ministry of Finance that the amendment should not be incorporated in the Competition Ordinance 2007 at this stage.
The prescribed penalties are enough under the law, it would be appropriate to access the enforcement of the law and after the adequate experience gained by the Commission in its implementing, say two to three year, before any amendment can be rationally proposed.
The law has been carefully drafted incorporating best international practices.
The amendments proposed by the private member of the National Assembly would appear to be highly unsuitable under current circumstance of country.
At this stage, it is crucial to pass the Competition Ordinance 2007 by the National Assembly to check cartelization, deceptive marketing practices and collusive behaviour by certain undertakings.
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