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Categories: BusinessNews

Competition Commission Issues Notices to Fertilizer Companies, Manufacturers over Price Fixing

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The Competition Commission has issued notices to fertilizer companies and the Fertilizer Manufacturers Advisor Council regarding alleged price fixing.

Notices were issued to six major urea companies for fixing the price of 50-kilogram urea bags at Rs. 1468 through advertisements in November 2021, according to a statement by the Competition Commission.

The inquiry is based on advertisements published in newspapers by the six companies, which allegedly violate Section 4 of the Competition Act.

The six companies involved include Engro Fertilizers Limited, Fauji Fertilizer Limited, Fatima Fertilizer Company Limited, Fauji Fertilizer Bin Qasim Limited, Agritech Limited, and Fatima Fert Limited.

Price fixing competition law violation allegations have been raised by associations and their members against coordinated actions.

The inquiry also noted price harmony among urea companies, suggesting possible collusive activities.

Departing from the permissible activities of legally determined prices by the government, as stipulated under competition law, is deemed a commercial decision.

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Zayn

Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

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