Pakistan, June 3 -- The Competition Commission of Pakistan (CCP) has fined six major fertiliser companies and their industry association a total of Rs375 million for anti-competitive practices. Each company was fined Rs50 million, while their trade body, the Fertiliser Manufacturers of Pakistan Advisory Council (FMPAC), received a Rs75 million penalty. The action followed a suo motu inquiry into price-fixing practices.

According to the CCP, the companies - including Fatima Fertiliser, Fauji Fertiliser, Engro Fertiliser, and others - coordinated with FMPAC to fix urea prices under the cover of an awareness campaign. Though they claimed to act independently, the CCP found that all firms sold urea at the exact same price of Rs1,768 per bag,...