ISLAMABAD: The Competition Commission of Pakistan (CCP) conducted a public hearing on concerns raised by petroleum companies regarding discriminatory access to Inland Freight Equalization Margin (IFEM) pool which may distort conditions of competition in crude and refined oil markets.
The hearing was chaired by Dr. Joseph Wilson, Chairman, CCP. On the bench with the Chairman were Dr. Shahzad Ansar, and Mr. Mueen Batlay, Members of the Commission.
The hearing saw a large turnout of stakeholders, including high level officials from the Ministry of Petroleum and Natural Resources, Oil and Gas Regulatory Authority (OGRA), oil refineries and oils marketing companies.
All the interested parties presented their point of views on the issues raised which will be taken into account by the Commission in formulation of its opinion in the matter.
This public hearing was conducted pursuant to Sections 29 of the Competition Act, 2010 which entrusts CCP with the responsibility to ” promote competition through advocacy which includes holding open hearing on any matter affecting the state of competition in Pakistan or affecting the country’s commercial activities and expressing publicly an opinion with respect to the issues.”
At the conclusion of the hearing Dr. Wilson thanked the participants for their time, and noted that the high level participation shows the confidence which the Commission commands in the public and private sectors alike.