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Why was Khalid Mirza sacked, and reinstated - LahoreEstate - 09-06-2009 07:21 AM
Sunday, September 06, 2009
Farrukh Saleem
ISLAMABAD: The President of Pakistan promulgated Ordinance No LII of 2007 on October 2, 2007 in order to “provide free competition in all spheres of commercial and economic activity to enhance economic efficiency and to protect consumers from anti-competitive behaviour.” The Competition Commission of Pakistan (CCP) was thus established with the aim of providing a “legal framework to create a business environment based on healthy competition towards improving economic efficiency, developing competitiveness and protecting consumers from anti-competitive practices.”
On 29th of April 2009, under the chairmanship of Mr Khalid A Mirza, Pakistan Steel Mills Corporation was served a show cause notice by the CCP under Section 30 of the Competition Ordinance for prima facie abusing its dominant position by refusing to deal with purchasers in relation to low carbon steel billets. The last hearing took place on May 15, 2009.
On August 17, Prime Minister Yusuf Raza Gilani went to the office of Auditor General of Pakistan (AGP) and told him that “we are ready to extend all kinds of support to him as we believe in strong institutions.” Lo and behold, within three weeks of PM’s visit, the AGP revealed that Pakistan Steel Mills “sustained a revenue loss of Rs9.672 billion in just one year merely because the management fixed its sale price below the market price.”
Why was Khalid Mirza sacked? On December 24, 2007, the CCP issued a show cause notice to Pakistan Banks Association for violating, prima facie, Section 4(1) read with Section 4(2) (a), © and (f) of the Ordinance.
Why was Khalid Mirza sacked? The CCP issued a policy advisory for the Ministry of Industries and Production against the price fixing agreement between the Pakistan Sugar Mills Association and the ministry.
It’s all about public money private greed. It’s all about consumer rip-off on an unprecedented scale. First came the oil companies’ cartel then the banking cartel, the cement cartel, the automobile cartel, the stockbrokers’ cartel and the sugar cartel. It’s about cartels versus 180 million consumers - and cartels are winning.
Ever wondered why prosperity is not trickling down? Answer: The cartels have kept all the prosperity to themselves. Where will it all end?
On September 5, after a major hue and cry over his sacking, Prime Minister Yusuf Raza Gilani acted promptly and swiftly to reinstate Khalid Mirza to his position, in the interest of his own image of a prime minister in command.
http://thenews.com.pk/daily_detail.asp?id=196988