ISLAMABAD: The Competition Appellate Tribunal (CAT) on Friday ordered a fresh hearing in a Rs44 billion penalty case against sugar mills.

The CAT decision comes after appeals were filed by the Pakistan Sugar Mills Association (PSMA) and its members against the penalties imposed by the Competition Commission of Pakistan (CCP) in 2021.

The CCP fined PSMA and its member mills a total of Rs44bn for cartel formation and price-fixing. This penalty, considered the largest-ever imposed by the CCP, was part of a case involving the sugar industry and allegations of manipulating sugar prices.

The tribunal directed that the matter be reheard by either the chairperson or any other member of the CCP who was not a signatory to either of the earlier conflicting opinions and that a final decision be issued preferably within 90 days.