Round table discussion meeting on “Market Syndicate and Bangladesh Competition Commission

Bangladesh Competition Commission (BCC) law enforcement is timely demand for market stabilization.

The Speakers in the discussion underscored the need for monitoring the market properly for sake of vast number of consumers. Economic growth will depend on success in market economy, they also opined.

The discussants made the remark in the round table discussion >

Bangladesh Competition Commission (BCC) former director Mr. Mohd. Khalid Abu Naser presented the key note. 

As chief guest, BCC member, Ms. Salma Akhter said BCC needs skilled manpower in doing routine works. The cases against unholy business people are not being lodged to BCC, she said also. Since 2016, BCC has been functioning in better way- Ms. Akter further said.

BCC former chairperson Mr. Mofizul Islam was present here in the program as guest of honor. In his speech Mr. Islam said that expected economic growth set by the government is totally impossible in absence of real competition in the market. There is no alternative to create competitive environment in seeing sustained economic growth, Mr. Islam said. Building up capacity of BCC is essential in fulfilling consumers’ expectations, former chairperson also said. Law enforcement is a must, he said adding that there are huge challenges in respect of law enforcement. “I do not want disclose the market scenario in Bnagladesh” Mr. Islam noted. Politically influential business people are responsible for distorting the market, Mr. Islam also said.

Legal economist and IBFB vice president MS Siddiqui said with a view to turning the economy into competitive, more producers and sellers are required. Unfortunately, no complaints from the consumers level are filled with BCC for judgement, Mr. Siddiqui said.

Mr. ABM Hamidul Mishbah, advocate of Supreme court emphasized on reducing the dominance shown by the big players in the market. In presence of influential players in the market, product innovation and diversification are not possible, he said. BCC has law in controlling the powerful people, Mr. Misbah said. There needs to grow awareness among the consumers about BCC activities, he said also.

“Competition law is very complex” head of Chambers at Justicia Legal Minds and Supreme Court advocate, Ms. Tasnuva Shelly said as panelist also. In some cases, ‘cartel’ is lawful though it has negative sides in economy, Ms. Shelly said. We have to define the market at first in becoming successful in future, She said.

IBB members and many distinguished people were present in the roundtable discussion among others.