Al-Ghazi Tractors Limited (AGTL) has officially responded to media reports regarding a penalty imposed by the Competition Commission of Pakistan (CCP), stating that it is currently reviewing the matter and will take appropriate legal measures if necessary.
In a notice to the Pakistan Stock Exchange (PSX), the company said:
“With reference to recent news circulating in media regarding the imposition of penalty on Al-Ghazi Tractors Limited (‘the company’) by Competition Commission of Pakistan, the company is reviewing the details and will take appropriate legal steps as needed.”
The response follows the CCP’s announcement of a Rs40 million fine on AGTL for allegedly violating competition law and misleading consumers. The penalty relates to a January 2022 front-page advertisement in an Urdu-language newspaper, where AGTL claimed that its New Holland tractor models provided “up to 30% extra diesel savings compared to any competitor’s tractors”—a claim that was reportedly based on findings from the Agricultural Mechanisation Research Institute (AMRI), Multan.
AGTL has not issued a detailed rebuttal yet but affirmed that all necessary actions will be taken after reviewing the CCP’s findings.
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