Pakistan Awarded 3-Star Rating By Global Competition Review
Mohammad Ali (@ChaudhryMAli88) Published August 03, 2016 | 09:09 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 3rd August, 2016) : The Competition Commission of Pakistan (CCP) has been awarded 3-star rating in the annual ranking of the World's top antitrust and competition authorities, by the Global Competition Review (GCR). The Rating Enforcement is the annual ranking of the world's leading competition authorities that provides an extensive evaluation of their performance and how they compare with each other, said a statement issued by the commission.
Based on its overall performance during the past year, CCP's ranking has been elevated to 3 stars out of 5. The Commission's three-star rating brings it at par with the competition authorities of Turkey, Portugal, Switzerland, Sweden, Singapore, Poland, New Zealand, Mexico and Austria, which, too, were awarded a 3-star rating.
Pakistan and India are the only two countries from South Asia having been included in the Rating Enforcement 2016, with the Competition Commission of India (CCI) being downgraded to a 2-star rating.
The factors contributing to the elevation of CCP's rating by GCR include a balanced approach towards both enforcement and advocacy, a focus on the staff's capacity building, and improvement in internal processes.
About the challenges faced by CCP, the GCR has noted: "There seems to be a consensus that the Commission remains a relatively open and transparent body. Ultimately the CCP has improved in some areas, but it remains constrained by systemic pressures." The biggest challenge the CCP faces is in the judicial review process where its cases have been tied up in courts. The maximum rating is 5-star, which has been given to the developed agencies of the world such as France's Competition Authority, Germany's Federal Cartel Office, Korea's Fair Trade Commission, US Department of Justice Antitrust Division, and the US Federal Trade Commission. The CCP continues to work towards promoting a healthy competition in all spheres of commercial and economic activity and to protect consumers from anti-competitive behavior.
Related Topics
Recent Stories
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
More Stories From Pakistan
-
Interior Minister starts Margalla Trail Patrol for security
2 minutes ago -
Speaker NA directs ministries to ensure their officials' presence in the house
18 minutes ago -
Senior journalist Waseem Shehzad robbed
28 minutes ago -
Commissioner for strict action against parents over not administering polio vaccine to kids
28 minutes ago -
By-poll of Tehsil Council Chairmen KP on Sunday; 783772 to cast vote
1 hour ago -
Naval Chief participates in 19th Western Pacific Naval Symposium in China
12 hours ago
-
Int'l symposium addresses capacity building for safe, environmentally sound ship recycling in Pakist ..
12 hours ago -
Shahzeb Chachar to hold khuli kachehri on April 26
13 hours ago -
Court adjourns Judicial Complex attack case till May 17
13 hours ago -
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
13 hours ago -
Wafaqi Mohtasib inspection team visits Excise and taxation office
13 hours ago -
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil Rights in South Asia ..
14 hours ago