Open AccessThe historical evolution and enforcement of competition law in Pakistan
Author(s) -
Nishan-E-Hyder Soomro,
Asif Khan,
Yongyeh Naglim Elizabeth,
Alexandra Jane Davis
Publication year - 2021
Publication title -
liberal arts and social sciences international journal
Language(s) - English
Resource type - Journals
ISSN - 2664-8148
DOI - 10.47264/idea.lassij/5.2.3
Subject(s) - competition law , safeguarding , competition (biology) , enforcement , legislation , agency (philosophy) , principal (computer security) , law and economics , business , economics , law , political science , market economy , sociology , social science , medicine , ecology , nursing , computer science , biology , monopoly , operating system
The study aims to attempt has been made to highlight competition law in various aspects with reference to Pakistan. The present study gives a detailed account of its origin or historical evolution over time by underscoring legislation's salient characteristics; the research attempts to feature its structure, power, and policies while identifying the challenges faced by the contemporary competition law in Pakistan. The study adopts qualitative data analysis to analyse the respective aims and objectives. The research assessed the regulatory agency's effectiveness as a principal authority to apply competition policies while preventing anti-competitive conduct. The research contents that many sustainability challenges are being faced by competition law in Pakistan and globalized transformation is one of the reasons behind it, it needs to be addressed. The research recommended that there should be an ability to attract professionals and judicial discourse that needs to be based upon sound economic rationale as per competition theory. However, competition law is supposed to prevent anti-competition rituals and practices by nurturing free and fair Competition in the market. It promotes greater Competition in the market by safeguarding customers against inaccurate means adopted by firms.