The Competition Commission of Pakistan (CCP) has finalised an inquiry report that shows evidence of cartelisation by the cement sector, reports Dawn.
The inquiry report was finalised for All Pakistan Cement Manufacturers Association (APCMA) members in the northern region of the country, as the Sindh High Court had restrained the CCP from using material collected from cement companies in the south zone (Sindh).
Cement prices increased by up to INR50/bag in May, June and August 2020, according to a CCP official. The CCP began investigating after cement prices rose while global prices of coal and oil were declining.
Electronic communication evidence obtained through the search of the APCMA’s head office and offices of cement companies in the northern zone (Punjab) reportedly showed territorial allocations and price fixing among association members.
As a result, the commission is expected to issue show-cause notices to the APCMA and the cement companies in Punjab and Khyber Pakhtunkhwa.
