KARACHI: It has been revealed that three dairy associations of Karachi are involved in cartelisation and price fixing in the metropolis.
The Competition Commission of Pakistan (CCP) made this revelation in a report. The CCP said that the illegal consortium caused consumers of the city a daily loss of Rs130 million through cartelisation and price fixing.
According to the competition commission, only three dairy associations caused an annual loss of Rs 47 billion to the citizens of Karachi.
According to Hum News, the competition commission has finalized its investigation report on alleged cartelisation and anti-competitive activities in the dairy sector.
The investigation report has revealed that three dairy associations in Karachi fixed the price of milk at Rs120/130 a liter instead of the price, Rs94, fixed by the government.