February 24, 2025 (MLN): The Competition Commission of Pakistan (CCP) has called for cooperation from the general public and relevant stakeholders to take strict action against illegal business nexuses and cartels and to report any such activities.Those who provide information and evidence regarding such illegal cartels will be rewarded with amounts ranging from Rs200,000 to Rs2 million. It is important to note that the identity of the informant will remain confidential.The artificial increase in the price of goods and services in Pakistan, and the lack of quality goods, are largely the result of business cartelization in the markets, according to the press release issued today.Cartels are formed when suppliers in a market coordinate or enter into agreements to fix prices for goods and services and control the supply, all for unjustifiable gains and illicit profit, which is an illegal practice.If any individual is aware that a business association or product suppliers have colluded to fix prices or control supply, he is urged to immediately report such information to the CCP.This initiative by CCP aims to promote public participation in eliminating illegal business practices.The scheme not only provides a legal avenue but also encourages the public to be part of protecting the country’s economy and their economic rights.The CCP’s mandate is to promote fair competition in the economy, ensuring that every Pakistani has access to quality goods and services at fair prices.Let us work together to identify these bad actors and support CCP in protecting consumer rights and promoting a transparent business environment.To ensure the provision of better-quality goods and services at fair prices to consumers, it is essential that all suppliers in the market compete with each other by offering better services and products at better prices, rather than colluding to fix prices.Engaging in agreements or understandings to control prices or supply of goods and services for unjustifiable profits is a serious crime under the Competition Act 2010.People can reach CCP through phone, email, or website to report cartel activities.If information is verified, people will not only receive a reward but also be recognized as a national hero.Copyright Mettis Link NewsPosted on: 2025-02-24T16:56:48+05:00The post CCP urges public to report illegal cartels, offers rewards up to Rs2mn appeared first on Mettis Global Link.