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Pakistan: CCP takes notice of rising food prices, initiates inquiry

By  |  February 22, 2015

The Competition Commission of Pakistan taking the notice of increasing prices of food commodities in domestic market, has initiated an inquiry against the suspected profiteers.

As per the CCP announcement, the investigation has been started after complaints from public and government about rising food prices. National Price Monitoring Committee, under Finance Minister Ishaq Dar, has already raised the issue of price hike in food items.

The Competition Commission has also approached the provincial governments and district administrations to obtain relevant data required to take strict action under the Competition Act, 2010. After investigation, the CCP could impose substantial penalties on the persons involved in practice of hiking prices.

 

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