The Competition Commission of Pakistan (CCP) marks World Competition Day on 5th December 2020 with the theme, “Enhancing Economic Efficiency of SMEs”. It pledged to play an active role under its mandate to strengthen and support small and medium enterprises through policy and advocacy initiatives.
On 5th December 2010, the International Network of Civil Society Organization on Competition (INCSOC) announced and proposed the first World Competition Day. Subsequently, each year, the world’s competition community celebrates 5th December as the World Competition Day by holding events, issuing statements and taking other outreach measures with the intention to support consumers and promote fair play in the market. This year’s international theme is “Competition Policy and Access to Healthcare.”
The Competition Law of Pakistan is a pro-business, pro-growth statute and the Commission believes in stimulating economic performance and creating a level playing field by eradicating market distortions and eliminating entry barriers. Competition encourages businesses to compete in order to continuously look for better ways to satisfy their consumer base with improved quality, durability, service, and price which come to fruition in innovation. This, as a result, enhances the economic efficiency of businesses and enables small businesses in particular to compete and grow.
The Small and Medium Enterprise (SME) sector is the backbone of Pakistan’s economy and there is still a lot of potential for growth and innovation. The CCP realizes that the SME sector deserves a special focus in the aftermath of the COVID-19 pandemic and its sustenance will depend on the support it gets from the relevant quarters. It encourages all efforts geared at ensuring the sustainable growth of SMEs and will endeavor to contribute, under its mandate, through issuing policy guidelines and taking advocacy initiatives for their benefit.
CCP is currently working to coordinate with jurisdictions where competition agencies have contributed, directly or indirectly, towards enhancing economic efficiency of SMEs, both in COVID-19 situations and otherwise.
