Competition Commision issues notice to Pakistan Steel on monopolizing supply

[Naveed Yaseen]

ISLAMABAD: The Competition Commission of Pakistan (CCP) has issued a show cause notice to the Pakistan Steel Mill (PSM) in what appears to be, prima facie, a refusal to deal on the part of the Mill with many consumers and buyers of low carbon steel billets.

The detailed hearing in this matter has been scheduled for May 19, 2009 in federal capital.

According to an official statement, taking suo moto notice of articles in the media as well as on a complaint submitted by Frontier Foundry Pvt (Ltd), in which it was submitted much of the mill’s production of billets was being allocated to a few undertakings collectively known as the Abbas Group, after that CCP looked into the matter.

Based on media articles and information shared by the complainant, the limited provision of billets to many consumers and buyers has had immense repercussions on the steel re-rolling industry, such as reduced operating shifts and employee layoffs. staff report

http://www.dailytimes.com.pk/default.asp...2009_pg5_3