Trade Adviser Sheikh Bashiruddin said that the capacity base of various institutions in the country has been destroyed for the past 15 years. This has been done in all areas, both public and private. The development of permanent industries has been greatly hampered. The natural competitiveness of the market has been destroyed.
He said these things in his speech as the chief guest at a seminar titled ‘Competition Policy in Bangladesh: Opportunities, Obstacles and the Way Forward’ at Hotel Intercontinental on Tuesday (May 20) afternoon.
The Trade Adviser said that after that situation, we faced many challenges in terms of power. But with several good steps, the country’s remittances and exports have now seen a good day. Success is gradually coming in other areas as well.
He said that what we have seen in the last fifteen years is that due to the destruction of institutional capacity, several crony groups have been created in our economy. An incredibly unequal distribution of wealth has been created and this unequal distribution has created some cronyism that is hindering the entry of new competitors into the market.
At that time, he said in reference to the Competition Commission, like all other institutions, the capacity of the Competition Commission was also destroyed. Due to which the common people did not get much benefit from it. The people of the country want to see the benefits of competition in their daily lives. This commission should be taken to that place.
Urging to ensure fair competition in the market, the advisor said that many unscrupulous institutions are harming small institutions by creating linkages in the market. They are destroying competitors by selling products at low prices if necessary to suppress them. The Competition Commission should punish the guilty.
Again, strict action is needed against those who are holding consumers hostage and earning illegally by evading VAT and tax from the government. Businessmen should also be responsible towards the country. Fair competition in the market and fair distribution of the country’s resources should be practiced.
Bangladesh Competition Commission and United Nations Development Programme (UNDP) jointly organized the seminar. The keynote address was presented by Dr. M. A. Razzak, Chairman of the Research and Policy Integration Commission for Development (RAPID).
The panel discussion was attended by Dr. AK Enamul Haque, Director of Bangladesh Institute of Development Studies (BIDS), Dr. Afroza Bilkis, Member (Law) of Bangladesh Competition Commission, Issam Mosaddek, Economic Advisor of the Foreign Commonwealth and Development Office, and Kamran T. Rahman, President of Metropolitan Chamber of Commerce and Industry.
The event was chaired by AHM Ahsan, Chairman of the Competition Commission, and was addressed as special guests by Mahbubur Rahman, Secretary of the Ministry of Commerce, Dr. Mainul Khan, Chairman of Bangladesh Trade and Tariff Commission, and Ms. Sonali Dayaratne, Deputy Resident Representative of UNDP Bangladesh.
Commerce Secretary Mahbubur Rahman said, 5/6 companies in Bangladesh purchase and market products from the same source. Since their costs are also roughly the same, there is not much competition in the market. The current government is taking steps to make the market competitive.
The Chairman of the Competition Commission said, the Competition Commission does not only fine companies, but also provides protection. We are working to protect small companies that are facing unfair competition in the market. Our goal is to break the syndicate of a few companies and give all companies a fair opportunity to compete.
