Staff Report Islamabad
As part of an investigation against tractor manufacturers for prima facie viola-tion of Sections 3 and 4 of the Competition Act, 2010, the Competition Commission of Pakistan on Thursday entered and searched the premises of Mil-lat Tractors Ltd (MTL) Lahore and Al-Ghazi Trac-tors Ltd (AGTL) Karachi.
The search inspections were carried out under Section 34 of the Act. Both the undertakings fully cooperated by providing the relevant record, documents, meeting minutes and computer-stored information to the two CCP search teams. Some critical data has been impounded dur-ing the search and inspections.
The CCP initiated the enquiry upon receiving concerns through the Pakistan Citizen Portal about a drastic increase in the prices of tractors at different points in time de-spite subsidy relief given by the government on sales tax and a great extent of localisation in the tractors industry.