December 05, 2024,
CUTS joined the Competition and Consumer Protection Commission (CCPC) in commemorating the World Competition Day 2024 under the theme: “Competition Policy and Inequality.”
Competition policy promotes fair market practices, prevents monopolies, and protects consumers by enforcing laws against price fixing, market sharing, and abuse of dominance. It also regulates mergers to maintain healthy competition and ensures businesses prioritize quality and fairness over deceptive practices.
Anti-competitive behavior often worsens economic inequality by concentrating wealth and power. Effective competition policies foster inclusive growth, reduce disparities, and create opportunities for marginalized groups.
With notable inequality in income distribution and regional development, robust competition policies can promote equitable growth, improve service access, and empower vulnerable communities.
CUTS urges businesses and consumers to embrace fair competition and comply with the law to build a more equitable market.
