1. Pakistan’s interest in regulating monopolies dates to the 1970s when it adopted the Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance 1970 and established a Monopoly Control Authority to carry out its purposes. This Ordinance was inspired by the UK Monopolies and Restrictive Practices (Inquiry and Control) Act 1948 and was expected to usher in a new era of economic growth and development for the country. However, shortly after its adoption, the 1970 Ordinance was amended in quick succession to support the newly devised nationalisation programme and later to encourage foreign direct investment, and the Monopoly Control Authority was soon reduced to an administrative agency lacking any meaningful powers of enforcement. 2. Pakistan next revisited the need
In February 2022, the Supreme Court of Pakistan admitted appeals on the constitutionality of the Pakistani competition regime, which is likely to decide the future of competition enforcement in the country. This article traces a brief history of the Pakistani competition regime, its performance in the last fifteen years and the obstacles that have arisen in this regard to fully understand the significance of these proceedings.
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