ZCZC
BSS-11
COMPETITION-MARKET
Competition Commission to prevent malpractices in market
DHAKA, July 04, 2018 (BSS) – Bangladesh Competition Commission (BCC) is
working on ensuring consumers interest by preventing various types of
malpractices in the market, BCC Chairperson Md. Iqbal Khan Chowdhury told
BSS.
“The goal of the commission is to ensure equal opportunity in the market
by creating an environment of fair and sustainable competition, protecting
consumer interest and promoting best practice in the market,” the Chairperson
said.
He said the commission, established under the Competition Act, 2012, is
now working to create a healthy competitive environment in the market so that
people can get products and services at competitive, but fair prices.
Referring to the government’s target of making Bangladesh a middle income
country by 2021 and a developed country by 2041, Chowdhury said it is
important to expedite investment by reducing unequal competition in trade and
business.
Briefing on the commission’s major duties, he said BCC started
functioning in 2016 to promote and ensure fair competition in trade by
controlling and eradicating collusion, monopoly and oligopoly and combination
or abuse of dominant position or activities adverse to the fair competition.
He said any individual or enterprize can lodge complaints with the
commission if the individual or the business entity find any anti-competitive activity in the market.
The commission, however, can also take suo moto steps against any person
or enterprize, if it considers that the individual or enterprize is involved in
anti-competition practices, he added.
Regarding the role of the commission in case of unusual price rise in the
market, he said the commission does not have anything to do with abnormal
price hike of goods and services, but it can take legal action to prevent
anti-competitive business practices.
According to the Competition Act, the commission is also authorised to
allow or deny merger of companies after considering the market situation and
the impact of planned merger on the consumers”, he said.
Noting that the commission works as a civil court, Chowdhury said if the
commission find anyone involved in anti-competition activities or abuse of
dominant position, the commission can fine up to 10 percent of the average of
his/her turnover for the last three financial years.
He, however, said that the commission needs more staff to start its activities in a full swing.
BSS/SPL/SAH/ANC/SA/ 1335 HRS