Bangladesh Competition Commission has got its secretary nearly one year after establishing the regulatory body to monitor and control market cartel.
The government appointed joint additional secretary Md Sujayet Ullah to the post, which is expected to work on setting up the commission office, said a senior official. Commerce ministry issued a circular in this regard yesterday.
As per the law, the government will select one commissioner from five possible commissioner candidates. The BCC, to be comprised of a chairperson and a maximum of four members, may investigate into 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 take 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.