Legal study of evolvement and challenges of Pakistan's competition regime

Abstract

The research brings into focus various areas of competition law and provides a thorough overview of how it developed over time by highlighting the important features of regulations. The study makes an effort to highlight its organization, authority, and objectives while highlighting the difficulties Pakistan's existing competition legislation is currently facing. The evaluation of the study's data is subjective. The study evaluated how well regulatory agencies function as a primary authority to implement competition laws while avoiding anticompetitive practices. According to the analysis, Pakistan's competition law is facing several sustainability issues, and one of the causes of these issues is legislative competence of the federal government to enact Competition Act 2010. As a result, these challenges must be resolved. Competition law suggests that there should be the capability to attract independent judicial which should be be based on sound financial theory. Therefore, by providing fair and transparent competition in the market, competition legislation is meant to discourage anti-competition rituals and practices. Protecting consumers from misleading tactics used by businesses generates greater market competition. Thus, competition law is crucial for governing enterprises by safeguarding the welfare of producers and consumers. If the law is consistently upheld, it eventually encourages social fairness and a thriving economy.