ISLAMABAD: In response to evolving market dynamics, the Competition Commission of Pakistan (CCP) has embarked on a comprehensive study focusing on the competition assessment of digital markets and digital services within the country.
A press statement released by the CCP elucidated that the primary objective of this study is to delve into the intricate interplay between digital services, competition, and economic growth. By gaining a deeper understanding of these dynamics, the CCP aims to formulate policy recommendations that will aid the government in aligning its regulatory framework with global standards, thereby fostering regulatory harmonization.
One of the key outcomes envisioned from this initiative is the proposal of a draft bill on digital markets. This proposal is slated to emerge at the culmination of the research study. Notably, countries like Russia, the United Kingdom, the United States, and India have already implemented similar legislative frameworks to regulate their digital markets effectively.
The CCP’s statement underlines the pressing need for policies geared towards promoting competition within digital markets. The study is poised to analyze the myriad opportunities and challenges inherent in the digital economy, particularly concerning competition dynamics. Ultimately, the overarching goal is to devise pro-competition policies that will ensure a level playing field and stimulate innovation and growth within the digital sphere.
This initiative underscores the CCP’s proactive stance in addressing emerging challenges in the digital landscape. By spearheading this study, the commission aims to lay the groundwork for a robust regulatory framework that fosters healthy competition, spurs innovation, and propels economic prosperity in Pakistan’s digital ecosystem.
