Fresh Competition Law To Be Debated By Parliament Soon Would Ensure Equal Opportunities

Minister of Commerce and Industry Khaled Al-Roudhan said Wednesday that the fresh competition law to be debated by Parliament soon would ensure equal opportunities. Addressing a symposium on the protection of consumers, organized by the Competition Protection Authority, Al- Roudhan, who doubles as Minister of State for Service Affairs, said the new legislation would curtail restrictions on the watchdog’s role and raise public awareness of competition.

He added that the authority would contribute to providing options and alternatives, ensuring quality and appropriate prices through market control and promoting free competition. The minister underscored the authority’s significant role in scrutinizing antitrust cases, watching mergers and acquisition and disseminating competitive awareness.

On his part, Competition Protection Authority’s Board Chairman Rashed Al-Ajmi said his agency had received many grievances and adopted initiatives and studies pertinent to various market sectors. He recognized that many businesses and economic bodies have already started to cooperate with the authority and abide by its relevant instructions. The watchdog’s main task is to protect local markets from perilous monopolistic practices and to maintain free competition with the help of other bodies concerned, he elaborated.

 

SOURCE : ARABTIMES

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