MoU signed with Russia’s competition watchdog

As Pakistan was seemingly towards closer business ties with Russia, the government has directed the Competition Commission of Pakistan (CCP) to initiate negotiations with the Federal Antimonopoly Service (FAS) of the Russian Federation for bilateral cooperation.

Under the leadership of Dr Kabir Ahmed Sidhu, the CCP already has partnerships with key regulatory bodies worldwide.

However, the CCP’s initiative is also aimed at enhancing its international standing, with a particular focus on improving its current rating of three stars out of five.

Since Russia has enacted legislation to facilitate the digitalisation of the economy, the FAS is at the forefront of implementing a robust digital agenda.

Pakistan expects to gain insights and expertise from the Russian experience in this regard.

The signing of a memorandum of understanding (MoU) with the Russian regulator is expected to facilitate capacity building for CCP, especially in the realm of digitalisation.