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.
This post was last modified on April 2, 2024 8:16 pm
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