ISLAMABAD: The Competition Commission of Pakistan (CCP) has seized the record of the offices of chairman and vice-chairman of the All Pakistan Cement Manufacturers Association (APCMA) during a raid in Karachi. Two different teams entered and searched the offices of the chairman and vice chairman of APCMA-Karachi and impounded the relevant record. The inquiry in the cement sector was started based on the information gathered through various media reports, and concerns and complaints expressed regarding a concurrent increase in cement prices, particularly during the month of April 2020. The reports indicated that an increase ranging between Rs45 – Rs55 per cement bag was apparently collectively decided in a meeting of the cement manufacturers held under the umbrella of APCMA. The evidence in Lahore suggested the possibility of a cartel/collusive arrangement between the cement manufacturers.

Source: Pakistan Today November 19, 2020 17:37 UTC