www.expressbusinessdirectory.com www.facebook.com www.cooplareggia.it www.phoronix.com pharman4.dreamwidth.org yelloyello.com www.classifiedads.com www.diigo.com www.inaturalist.org wanelo.co
Home / Breaking News / ‘CCP lauches online systems for processing merger applications,complaints’

‘CCP lauches online systems for processing merger applications,complaints’

ISLAMABAD -UNS : Amid the COVID-19 situation, the Competition Commission of Pakistan (CCP) in order to facilitate the local and foreign investors intending to invest in Pakistan through mergers, acquisitions, and joint ventures, has launched an Online Merger and Acquisition Application filing system.
Pakistan is a compulsory merger regime where the companies/undertakings seeking mergers, acquisitions, or joint ventures and meeting the prescribed threshold stipulated in the merger regulations, have to apply for clearance from the CCP under section 11 of the Competition Act, 2010.
The CCP, keeping in view the difficulties faced by the local and foreign investors in filing the merger applications in paper form amid the COVID-19 pandemic, has launched the online application filing system. Through this system, companies can submit the required documents electronically using a predefined format through an online software application provided by the CCP. An undertaking anywhere in Pakistan can now request for Merger and Acquisition NOC and also track the application online through this system, which can be accessed at CCP’s website (www.cc.gov.pk ). While the undertakings are being asked to file merger applications online, the CCP cleared
9 mergers during the past week. Since January 2020, the CCP has approved 21 cases of merger, acquisitions, and joint ventures in various sectors of the economy. These include 2 merger cases, 1 joint venture, and 18 acquisitions.
Moreover, to clear the backlog of various cases pending at CCP, hearings have been resumed, and keeping the health and safety of the respondents at forefront amid COVID- 19, they have been allowed to participate in the hearings using video conferencing and other online tools. This week, the Commission conducted two hearings using video
conferencing. For the facilitation of the general public, CCP’s online Complaint Management System is in
place to facilitate the consumers and businesses in submission of complaints regardingviolations of competition law. Any complaint received at the Commission is fed into the online system and a tracking number is issued to the complainant. The complainants can call at a dedicated telephone line at CCP (051-9100270-72-73) or email at
complaints@cc.gov.pk regarding their complaints. Furthermore, an online app is also being developed for processing Exemption applications.

About World Tribune Pakistan

Check Also

White woman fired from job after calling cops over black man

NEW YORK -UNS : Denouncing “racism of any kind,” a global investment firm has fired …

Leave a Reply