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| The CCP establishes an intelligence unit to enhance market surveillance and ensure robust monitoring. |
The Competition Commission of Pakistan (CCP) has introduced a new Market Intelligence Unit (MIU) with the goal of developing advanced technological and data analytical capabilities.
This initiative aims to proactively identify collusive practices, marking a shift from reactive enforcement methods. To achieve this objective, CCP has established partnerships, including an MoU with the Urban Unit in Punjab, and plans to gather comprehensive data on essential commodities and various sectors of the economy.
The MIU will employ diverse tools, econometrics models, and price movement analysis to monitor markets, detect distortions in natural equilibrium, and combat market abuse, collusion, and cartels effectively.
Additionally, the MIU will play a crucial role in addressing the challenges posed by sophisticated market manipulators who often leave behind no obvious evidence. By adopting an international approach, the MIU will systematically gather economic data, employing market surveys and consumer feedback to monitor various sectors and industries.
Utilizing cutting-edge software, tools, and econometrics models, the MIU will closely examine supply and demand dynamics. It will focus on identifying any discrepancies in market equilibrium, allowing for timely interventions to prevent market abuse.
By employing comprehensive price movement analysis, the unit will scrutinize fluctuations, ensuring fair and competitive market conditions for businesses and consumers alike.
This proactive stance aligns with global efforts to curb unfair market practices, ensuring a level playing field for all stakeholders. The MIU's multifaceted approach not only marks a significant step towards combating collusions and cartels but also demonstrates a commitment to fostering transparent and ethical market environments within the economy.
