KARACHI: Rahat Kaunain Hassan, Chairperson of the Competition Commission of Pakistan (CCP), has assured that the Commission will conduct a thorough investigation into the alleged cartelization in the steel, glass, and tiles industries and will take action according to relevant laws.
She was talking to a delegation of Association of Builders and Developers of Pakistan (ABAD) here. Chairman ABAD Muhammad Altaf Tai lead the delegation. Vice Chairman ABAD Nadeem Jeewa, Chairman Southern Region Raheel Rinch, former Chairman Southern Region Sufian Adhia, Mustafa Thanvi and others were also included in the delegation.
CCP Chairperson Rahat Kaunain said that promoting fair competition and protecting consumer rights are fundamental responsibilities of the Commission. She also asked ABAD to cooperate with the commission by providing all relevant facts and data related to cartelization in the steel, glass, and tiles industries to facilitate investigations and subsequent actions against the cartels.
Earlier talking to CCP Chairperson, Chairman ABAD Muhammad Altaf Tai demanded to take stern action against steel, glass, and tiles industries for decartelization of these construction materials to support construction industry and pass on benefits of low prices to general public..
He said that manufacturers are artificially increasing prices of steel, glass, and tiles, which is severely impacting cost of construction ultimately burden of irrational prices go on to general public. The escalation in prices of construction materials not only hindering potential investment in the construction industry but also affecting ongoing projects; he said adding that builders and developers are unable to complete their projects within the stipulated timeframes and budgets due to ever increasing prices of construction materials..
The ABAD Chairman appealed to the CCP Chairperson to take strict action against cartelization in order to safeguard the construction industry and interests of Allottees.
