ISLAMABAD: The Supreme Court (SC) on Wednesday reserved judgment in the matter pertaining to prices of ghee and cooking oil.
A two-member bench of the apex court headed by Justice Jamal Khan Mandokhail after hearing the arguments, reserved its judgment on the matter as an appeal was filed by Pakistan Vanaspati Manufacturers Association.
Muhammad Shoiab, counsel for the manufacturers association submitted before the court that they reduced the prices of ghee/oil on the government’s request adding that all records of the price reduction are available, said the association’s lawyer.
The court was informed that the Competition Commission took action in 2010 based on the 2008 record.
Amjad Hameed Ghauri, counsel for the Competition Commission of Pakistan however, told the court that even on the government’s request, the association could not decide to reduce prices.
The counsel contended that the association cannot have the authority to fix prices adding that if the association makes such decisions, it does not create a competitive environment. The counsel submitted that a competitive environment leads to a reduction in prices.
Justice Jamal Khan Mandokhail remarked that in the country, the root causes of issues are not examined. Justice Mandokhail added that if the stance of the Competition Commission is accepted, tomorrow the government will not be able to do anything.
Similarly, Justice Salahuddin Panhwar remarked that in the poultry case, a fine has already been imposed on the association,
It is pertinent to mention here that in the year 2010, the Competition Commission had imposed a fine of 50 million rupees over the decision to reduce prices.
