FE Report
The Bangladesh Competition Commission (BCC) looks like a paper tiger as it is yet to play its part in anti-competitive practices in businesses for lack of expertise, experts said.
The quasi-judicial statutory body was formed in 2016 through the Competition Act 2012.
They recommended forming an advisory panel to identify areas of focus and increase its strength and efficiency through extensive training and opinion-sharing events.
The BCC needs to build its image among the masses through setting unique examples, the experts observed.
They shared such views at a seminar on promoting competition for sustainable and inclusive development in Bangladesh at the CIRDAP Auditorium on Saturday.
The BCC and commerce ministry co-hosted the event where Commerce Minister Tipu Munshi was present as the chief guest and secretary M Mofizul Islam as the special guest.
Former central bank governor Dr Atiur Rahman and Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) president M Shafiul Islam, among others, spoke at the event.
BCC chairperson M Iqbal Khan Chowdhury presided over the programme.
Economist Dr Abdur Razzak presented a keynote paper on which FBCCI adviser M Monzur Ahmed, Bangladesh Bank director Dr Jamaluddin Ahmed and of Bangladesh Tariff Commission chairman Dr Mozibur Rahman spoke.
Minister Munshi at the seminar said fair competition can ensure competitive pricing that underlies the need for enforcement of the competition law.
Through the law, he said, unfair practice by a section of traders centering Ramadan could also be checked.
The public suffers in monopoly business, he said, warning that the nation was not liberated for petty interests of those who are few in number.
Secretary Islam said effectiveness of the competition law could help reduce poverty by 10 per cent.
Its enforcement could ensure sustainable and inclusive growth through protecting interest of both consumers and businesses, he added.
Quoting official data, the keynote speaker said prices of necessities fell by 10 per cent along with a rise of social safety coverage for poor households by Tk 500.
More than 16.5 million people of around 4.0 million households would be lifted out of poverty, he disclosed.
Citing cross-country data of OCED countries like India, Australia and Croatia, the economist said competition policy has a major impact on per-capita income, gross domestic product, labour and productivity.
About the competition commission's role, he underlined the need for conducting research, investigations as well as engagement with universities, research institutions and other think tanks to start generating knowledge products, exchanging ideas and identifying scope of research and policy work.
Dr Atiur said competition can ensure efficiency and innovations through improving services.
Citing areas of focus like electric market, predatory pricing, interest rate, restrictive clauses in tenders, health, education, university, he said the BCC should play its due role.
Meanwhile, FBCCI chief emphasised good governance and efficient engagement of the BCC and said the culture of impunity must end to bring culprits to book.
He said economy depends on the growth of the private sector and good governance.
Monzur Ahmed underlined the need for increasing
surveillance through formulating rules of business and said the commission can check anti-competitive elements from different sectors.
He put stress on focusing food, electricity and banking and said competition policy has been popular in different countries for its effectiveness.
The BCC organogram comprises a chairperson and two members.
smunima@yahoo.com
