ISLAMABAD: Taking note of artificial price hikes for goods and services and scarcity of quality products due to cartelisation, the Competition Commission of Pakistan (CCP) has sought public help detecting market collusions.

Cartels are formed when suppliers coordinate or enter into agreement s to fix prices and control supply, all for unjustified gains and illicit profits, which is illegal.

To ensure the provision of better-quality goods and services at fair prices to consumers, the commission asserts that it is essential that all suppliers in the market compete with each other by offering better services and products at better prices, rather than colluding to fix prices.

Engaging in agreements or understandings to control prices or supply of goods and services for unjustifiable profits is a serious crime under the Competition Act 2010, the CCP warned on Monday.

The CCP called for cooperation from the public in general and the stakeholders concerned to take strict action against such illegal business nexus and cartels and to report any such act.

Individuals aware of a business association or product suppliers that have colluded to fix prices or control supply are urged to report such information to the CCP immediately.

Those who provide information and evidence regarding such illegal cartels will be rewarded with Rs200,000 to Rs2,000,000.

The whistleblower`s identity will remain confidential, and the commission has said that this initiative aims to promote public participation in eliminating illegalbusiness practices.

The scheme not only provides a legal avenue but also encourages the public to be part of protecting the country`s economy and their economic rights.