The Competition Commission fined the Pakistan Flour Mills Association Rs 7.5 million for fixing wheat prices.
According to media, the Competition Commission of Pakistan has taken Rs 7.75 million to the Pakistan Flour Mills Association for deliberately fixing wheat prices and flour production in a systematic assessment of flour.
Three-member bench of the Competition Commission of Pakistan called on all concerned parties to hear the case regularly. The bench comprises Chairman Competition Commission Chairperson Vidya Khalil, members Mohammad Saleem and Dr Shahzad.
During the hearing it was pointed out that the Flour Mills Association’s platform is motivated by its members in regard to the price of flour, its production quantity and delivery, which is an open violation of Article 4 of the Competition Commission Act.
The Competition Commission states that under Article 38 of the Constitution, the State is responsible for providing food at reasonable prices to the citizens. Can be provided. CCP says fixing food prices also affects the competitive environment.
Here it is important to mention that Pakistan is the most consumed flour in the world, which is 124 kg per annum. Wheat flour consumes 72 per cent of its citizens.
via: web news