Competition Commission of Pakistan (CCP) imposed Rs150 million penalty on eight major poultry hatcheries for creating a cartel and to enhance price of day-old chic by 346 percent through artificial methods, reported 24NewsHD TV channel on Wednesday.
According to the details, the cartel was involved in fixing chic price on daily basis through hatcheries WhatsApp group.
CCP said that rates of chic were fixed in Chick Rate Announcement group daily. Big Bird Marketing Manager Dr. Shahid was also involved in fixing artificial price of chic.
The report said that the price was fixed 87 times through WhatsApp and 108 times through text messages.
Competition Commission of Pakistan report further stated that senior office-bearers of Pakistan Poultry Association were also involved in announcing artificial price of chick.
This cartel also fixed rates in Punjab, Multan and Karachi on daily basis and the price was increased from Rs.17.92 to Rs79.92.
It is necessary to mention here that Sadiq Poultary and Islamabad Feeders already obtained a stay order in this regard.
CCP decided to issue show-cause notice after vacation of stay order. Lahore High Court (LHC) authorized CCP to issue show-cause notice.
CCP Chairman Dr. Kabir Sidhu warned the trade association to avoid announcing artificial price. He further said that these association should take steps for facilitation and welfare of its community.
He further said that any association found involved in making a cartel to announce artificial prices will be dealt with iron hands.
He advised people that if they notice any artificial increase in prices they should inform Competition Commission of Pakistan immediately.
Reporter: Waqas Azeem