CFTC hosts private sector and media

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Created on Monday, 16 December 2013 16:05

Since August 2013, a total of six advocacy workshops have been held in the three major cities of Malawi targeting CEOs in the private sector as well as business journalists. The private Dr Chigona delivering the opening address sector workshop for the Southern region was officially opened by Commissioner Jimmy Lipunga while in the Central region, Commissioner In his address, Lipunga reiterated the importance of competition in the economy “Competition gives rise to a more efficient allocation and utilization of resources and promotes consumer welfare through competitive prices for goods and services.

“In any economy, vigorous competition results in lower prices, higher quality of goods and services and top draw innovations leading to new products and services and wider consumer choice”. Similar sentiments were echoed by Commissioner Chigona who said: “Advocacy and stakeholder engagement initiatives of this nature, promote healthy competition. Not only do these initiatives deter the private sector from engaging in anti-competitive business practices, they also encourage individual companies and trade associations to evaluate the effects of their policies on competition.

“Over and above this, companies strive to reduce deceptive or unfair business practices that harm consumer welfare”.