Saira Imran The Competition Commission of Pakistan (CCP) imposed steel cartel fine in Pakistan. CCP has fined two major steel companies Rs 1.5 billion for forming a steel cartel and fixing steel prices illegally.
According to the CCP spokesperson, investigations proved that the two companies increased steel prices by up to 111% over the past three years. This illegal price hike caused heavy financial loss to consumers. The report stated that the companies artificially raised the price of raw steel per ton by Rs 146,000, clearly proving evidence of cartelization.
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The CCP’s detailed report revealed that both companies coordinated their prices from 2021 to 2024 to gain higher profits and create an artificial shortage in the market. The inquiry began in June 2024 after complaints from consumers and the Builders Association.
Later, the CCP team raided the offices of both companies and collected key evidence. The CCP issued show-cause notices in March 2025 based on these findings.
The final decision ordered both companies to pay the fine within 60 days. If they fail to do so, they will face an additional penalty of Rs 100,000 per day for each day of delay.
CCP Chairman Kabir Sidhu said that price-fixing and cartelization will not be tolerated in any market. He added, “In a key sector like steel, unfair profits not only raise construction costs but also burden the public. The CCP will further tighten its monitoring to ensure fair competition.”
The action against the steel cartel highlights the government’s commitment to promoting transparency and protecting consumers from market manipulation.
In conclusion, the steel cartel fine in Pakistan shows that the authorities are taking strong steps to ensure fair pricing and protect public interest.
