PSM fined Rs25 million for violating competition law

ISLAMABAD: The Competition Commission has fined the Pakistan Steel Mills (PSM) Rs25 million for abusing its dominant position in the low-carbon steel market by refusing to deal with customers like the Frontier Foundry (FFPL).
The commission held that the PSM had abused its position by refusing to deal with customers in violation of Section 3(3)(g) of the competition law.

Anti-cartel law must for economic turnaround: Mirza

LAHORE: Competition Commission of Pakistan Chairman Khalid Mirza has said that competition law and its effective implementation were a prerequisite for the economic turnaround.
 
Speaking at the Lahore Chamber of Commerce and Industry here on Wednesday he said that consumer and productivity were bound to suffer without contestability, rivalry and economic agents competing on a level- playing field because competition was at the core of the market system.