Rs1.5 bn Fines on Steel Giants

The Competition Commission of Pakistan (CCP) inquiry report suggested that the steel cartel increased prices by an average of 111 percent, with raw steel prices surging by Rs146,000 per tonne over three years. The CCP imposed heavy financial penalties on Aisha Steel Mills Limited (ASML) and International Steels Limited (ISL) after finding both undertakings guilty…

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