Govt decides to make Competition Commission of Pakistan independent
Last updated on: 01 December,2020 10:17 pm
Govt decides to make Competition Commission of Pakistan independent
ISLAMABAD (Dunya News) - The federal government has decided to make the Competition Commission of Pakistan (CCP) independent, 3% of the funds have been approved for the Competition Commission from 5 major regulators of the country and a notification has also been issued in this regard.
According to a statement issued by the Competition Commission of Pakistan, the financial autonomy of the Competition Commission will further strengthen the institution. The Federal Cabinet has clearly supported the CCP s position. The Cabinet immediately approved the issuance of an SRO.
Five regulators (SECP, OGRA, PTA, NEPRA, and PEMRA) will pay 3% fee to CCP. Regulators will pay a 3% fee to CCP on the revenues and levy from the fiscal year 2009-2010.
In this regard, the Ministry of Finance has also issued an SRO for gazette notification on November 27, 2020. The bankers of these five regulators have been asked to submit three per cent of the total fees and charges to the CCP before depositing the surplus in the Federal Consolidated Fund in the first ten days of the month after each quarter.