By Khalid Qayum and Khaleeq Ahmed
May 14 (Bloomberg) -- Pakistan’s antitrust regulator is assessing the prevalence of collusion in 15 industries including sugar and automobiles to curb any price-fixing and spur investment in a slowing economy.
“The idea is not to get anyone but to correct behavior,” Khalid Mirza, chairman of the Competition Commission of Pakistan, said in an interview in Islamabad today. “If these sectors correct themselves, then we have done our job.”
Pakistan wants to examine the possibility of collusion by automakers, cement producers and sugar processors to spur investment in Pakistan, which accounted for 21.6 percent of the economy as on June 30, 2008.
The regulator is currently assessing the state of competition in the banking, sugar, fertilizer and energy businesses, Mirza said. It also plans to study automakers and edible oil producers, he said.
Mirza, 63, was appointed chairman of the regulator in 2006 after he spent three years at the helm of the Securities & Exchange Commission and over two decades at the World Bank in Washington.
For more on this article, please click on the following link: Pakistan to Assess Cartel Practices in 15 Industries: Bloomberg
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