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Toothless Competition Commission

Somebody very correctly suggested the other day that if those found guilty of setting up cartels were handed down rigorous imprisonment, nobody in this country would dare to indulge in this gory practice.There is a need to insert a clause in the relevant law for sending such persons to jail if the country is to get rid of the evil of cartel and monopoly.In the U.S and Europe those found guilty of forming cartel have to undergo jail term for many many years.Needless to say no capitalist wants to go to jail,therefore, the fear of jail imprisonment should be put into their hearts.
It is a pity that the Competition Commission of Pakistan hasn’t done anything worthwhile during the past twelve years or so for preventing formation of cartel and monopoly in cement,sugar flour or any other industry.Since 1990 stringent laws have been passed in the U.S. and many European countries for discouraging formation of cartel in any industry.Not only those who are found guilty of this offence are heavily fined,they have to face rigorous jail term also That is the precise reason why in those countries no cartels or monopolies in any business or industry could be formed unlike Pakistan where due to absence of stringent laws,monopolies and cartels are the order of the day in many industries.
The indifference of the rulers of this country towards this important responsibility of theirs can be gleaned from the fact that three posts of Commissioners in the Competition Commission of Pakistan are lying vacant since long.Needless to add that the only way under which the economic exploitation of the have-nots at the hands of the capitalists can be controlled in a capitalist economy like Pakistan is to have an eagle-eyed Competition Commission which should be given enough powers to keep a tight control on the greed of the capitalists to fleece the common man with rare abandon.

About Mazhar Ali Shah

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