The law got through parliament more than one and half years ago to ensure fair practices of competition in the country’s business sector. But the body which will make it happen under the law is yet to come out of the womb.
Bangladesh had its Competition Act passed by the parliament in June 2012 but wait for the Competition Commission has continued since then with no signs of having it soon.
The commerce ministry has launched a seemingly never-ending search for commissioners for it while no officials know when this will end.
As Ramadan closes, the necessity of such a watchdog is deeply felt to check any uneven competition among traders during the holy month when demand for essentials goes up.
Commerce ministry sources said rules and organogram for the commission had not been finalised yet.
Md Sujayet Ullah, additional commerce secretary, was placed as the Commission secretary in September last year.
He who was recently transferred to another ministry took no tangible steps to make rules and organogram.
A senior commerce ministry official said Md Sujayet Ullah had no expertise on the subject.
Viewed as an effective tool against unfair business practices, the competition law is expected to pave the way for healthy competition among businesses.
Commerce Secretary Mahbub Ahmed says the Competition Commission is unlikely during Ramadan.
He put more stress on selecting good and eligible persons for the posts of commissioner than on quick implementation of law.
A sum of Tk10.32 lakh has been released last year for the Competition Commission from the government’s unexpected expenditure fund.
Business ethics were being persistently flouted through cartels, syndication, hoarding, black marketing etc, which necessitated a legal tool to tackle the situation. And competition law came in.
As per the law, the government will select one commissioner from five possible commissioner candidates.
The commission, which will be comprised of a chairperson and a maximum of four members, is entrusted with probing into any allegation on its own or on receiving complaints.
It will monitor the market situation and take necessary steps against law-breaking business organisations.
The law provides punishment of jail sentence up to one year and a fine of Tk1 lakh per day in case of non-compliance of commission’s order.
Under the law, the body empowered as a civil court, will take measures against business syndication to ensure healthy competition.
The commission will be responsible for ensuring the enforcement and implementation of the Competition Law-2012.