Competition Act, 2010
The Competition Act, 2010 is a Federal Legislation which extends to the whole of Pakistan. The Competition Act, 2012 is made to provide for free competition in all spheres of commercial and economic activities to enhance economic efficiency and to protect consumers from anti-competition behaviors. This Act provides for the establishment of the Competition Commission of Pakistan to maintain and enhance competition. The Competition Act, 2010 is applicable to all undertakings and all actions and matters that take place in Pakistan and distort competition within Pakistan. The Act prohibits anti-competitive agreements that may hinder competition. It also addresses the abuse of dominant positions by enterprises, preventing them from exploiting their market power to the detriment of fair competition. The Competition Act, 2010 regulates mergers and acquisitions, aiming to strike a balance between encouraging business growth and preventing the creation of monopolies that could stifle competition. The Competition Act, 2010 underscores the significance of a competitive market environment in promoting innovation, efficiency, and consumer welfare, positioning itself as a cornerstone for maintaining a healthy and dynamic economy in Pakistan.
