The competition commission should be transformed into a stronger and functional regulatory organisation in cooperating with business entities, said Professor Dr. Atiur Rahman.
Atiur, also a former governor of Bangladesh Bank, also underscored the need for developing a prudent policy for market competition while addressing a seminar in Dhaka.Competition Commission of Bangladesh organised the meeting titled “Competition Policy and Inclusive Department” at CIRDAP Auditorium in the capital recently.
Commerce Minister Tipu Munshi was the chief guest while FBCCI President Shafiul Islam Mohiuddin was special guest at the meeting. Economist Abdur Razzaque presented a keynote paper on the occasion.
Prof Atiur further said that an effective competition commission can serve better to both the producers and the consumers.
“It may protect SMEs from anti-competitive behavior of large firms and thus ensure enabling environment for the new entrepreneurs. On the other hand, this will help increase the number of players in the supply side, restrict predatory pricing which in turn will benefit the customers,” explained Prof Atiur.
He inferred that because of prevalence of cartels and restrictive practices consumers most often end up paying artificial high prices.
Atiur said that the competition commission can contribute to a significant extent in attaining sustainable development goals related issues to poverty reduction, education, healthcare, energy, and water and sanitation.