Anti-competitive business conduct can have harmful effects on the level of competition in the economy and thus, on consumers. The Competition Act, 2010, prohibits undertakings from abusing a dominant position in the market, participating in anti-competitive agreements, and resorting to deceptive marketing practices that could result in a transaction based on incorrect or inaccurate information. It also reviews mergers between undertakings that could result in significant impediments to effective competition. Through advocacy, the Commission encourages voluntary compliance and promotes a ‘competition culture’ to take root in the economy.
The Competition Act, 2010 is based on international best practices, considers the current economic realities and corrects the deficiencies of the Monopolies and Restrictive Trade Practices Ordinance (MRTPO) of 1970 related to definitional aspects, coverage, penalties, and other procedural matters. It covers all sectors of the economy, regardless of their public or private ownership.