Pakistan Fines Cement Cos. $77M For Alleged Cartel

Law360, New York (September 2, 2009, 3:23 PM EDT) -- Pakistan's competition authority has fined 20 cement makers more than 6.3 billion rupees ($76.6 million) for allegedly colluding to raise the price of cement across the country.

The Competition Commission of Pakistan pointed to the 20 companies' membership in the All Pakistan Cement Manufacturers’ Association, whose 1992 establishment the watchdog linked with the beginning of cartel behavior in the country's cement industry.

The fines represent 7.5 percent of the companies' 2008 turnover — roughly 84 billion rupees ($1 billion) in total — just half of the...
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