The Competition Commission of Pakistan (CCP) on Tuesday imposed fines of Rs375 million on fertiliser companies for “anti-competitive conduct”.

“The Competition Commission of Pakistan has taken decisive action against anti-competitive conduct in the fertiliser sector, imposing a penalty of Rs50 million on each of the six major urea manufacturers,” said a press release by the CCP.

It added that it also penalised a leading industry association Rs75m, totalling Rs375m in fines.

The CCP said that following a detailed inquiry-initiated suo motu, the Commission’s bench comprising Dr Kabir Ahmed Sidhu and Mr Salam Amin determined that six urea manufacturing companies — Fatima Fertiliser Limited, Fauji Fertiliser Company Limited, Fauji Fertiliser Bin Qasim Limited, Fatima Fertiliser Company Limited, Engro Fertiliser Company Limited and Agritech Limited — in coordination with their trade association, Fertiliser Manufacturers of Pakistan Advisory Council (FMPAC), were involved in anti-competitive conduct.

© Dawn Business