A year into passage in the parliament, the Competition Act could not be in place yet due to absence of a Commission which will ensure the enforcement of the law.
Bureaucratic tangles and strong opposition from certain business groups including multinationals who feel worried in losing control over the market are blamed behind non-implementation of the law.
A gazette notification was issued seven months back by the law ministry on setting up an office for Bangladesh Competition Commission (BCC). The commerce ministry has not completed the process of launching the office till date.
However, Commerce Secretary Mahbub Ahmed told the Dhaka Tribune Wednesday that the BCC office will be set up in three months.
"We do not face any pressure against the establishment of the BCC office. In three months, we are opening the office," he said.
In its election manifesto, the ruling Awami League pledged to enact the competition law.
A commerce ministry source said the ministry has decided to open BCC office at the building of Trading Corporation of Bangladesh.
According to the source, the commerce ministry already sent a letter to the Public Administration Division to provide a secretary for the BCC. The BCC secretary will be equivalent to the post of joint secretary.
As per the law, the government will select a commissioner from five possible commissioner candidates.
The BCC to be comprised of a chairperson and a maximum of four members may investigate any allegation on its own or on receiving complaints.
Besides, it will oversee the market situation and take necessary measures against unscrupulous businesses and organisations.
Under the law, if found guilty of violating the Commission's order, one will be punished with a jail sentence of maximum one year and a fine of Tk100,000 per day in case of non-compliance of orders.
The government will appropriate measures against business syndication to ensure healthy competition in trade and commerce as per the law.
The Commission equivalent of a civil court will be responsible for ensuring the enforcement and implementation of the Competition Law-2012 to resist any anti-competition designs and ensure healthy competition for all, particularly small and medium enterprises.
In November 2012, the commerce ministry constituted an eight-member committee to formulate rules for commission to oversee the execution of the law in order to give relief to consumers from unhealthy syndication of traders.
Amitava Chakraborty, Director General of the ministry's WTO cell, and Md Abul Hossain Mian, Director General of Directorate of National Consumers Rights Protection were in the committee.