There has been a “Competition Analysis of Digital Markets and Digital Services in Pakistan” launched by the Competition Commission of Pakistan (CCP) in Islamabad.
Competition, economic growth, and employment prospects are the focus of this study’s investigation into the effects of digital marketplaces and services. To facilitate worldwide regulatory harmonization, it will offer policy suggestions to the government.
In the end, CCP hopes to put forth a bill on digital markets as a result of this inquiry. As a means of market regulation, several nations have followed suit, including Russia, the United Kingdom, the United States, and India.
There needs to be forceful policymaking in Pakistan to foster competition as the country moves towards digital markets. To achieve this goal, we must create and strictly enforce regulations that prevent large digital platforms and service providers from carrying out anti-competitive activity.
The nature of competition has changed as a result of digitalization’s impact on both new and old markets. The research will look at the pros and cons of the digital economy from a competitive standpoint. Its stated goal is to propose pro-competition policies that take into consideration the specific characteristics of these marketplaces.
Concerns about competition have grown in recent years due to the prominence of data (personal and organizational), the usage of algorithms, and the rise of a handful of dominant platforms. New forms of abuse have emerged in the digital economy that do not simply fit into any existing categories, prompting discussion of possible legal responses.
Improving data portability, supporting open standards, and sharing data with competitors will all contribute to a more competitive digital economy in Pakistan, which is good for consumers.