CCP imposes Rs81.44b fine on sugar mills
The Competition Commission of Pakistan (CCP) has imposed a fine of Rs81.44 billion on sugar mills, reported 24News HD TV channel on Friday.
CCP issued the order against 81 sugar mills and imposed a fine. CCP Chairman Rahat Kaunain said that the nexus of sugars mills was collecting sensitive information.
CCP, for the first time, was divided in its decision as the two members of the commission wrote the contradictory note. As the votes were equal, the chairman voted in favour of the decision. The fine was imposed on the sugar mills due to the export of sugar, fixing the prices through nexus. The commission ordered the sugar mills to submit the fine within the period of two months.
Sugar Mills questions the decision
Sugar Mills Association while reacting to the decision said that today’s decision was neither unanimous nor was on majority votes. It said that the two members wrote a contradictory note saying the information was not enough for the decision-making. “After equal voting, the chairman voted in favour of the decision against the mills which raises a legal question on the decision,” it said and added that the chairman had taken advantage of the law which was used for administrative purposes. It further said that the chairman did not have the authority to vote during the bench’s proceedings.