Commerce Adviser Sk. Bashir Uddin on Wednesday said that the base on the capacity of the country's various institutions has been broken over the last 15 years, both in the public and private sectors.
"The development in the local industry was deterred severely while the usual competitive capacity of the market was also spoiled," he said.
The Commerce Adviser was speaking at a seminar titled "Competition Policy in Bangladesh: Prospects, Challenges and the Way Forward" as the chief guest held at a city hotel.
Commerce Secretary Mahbubur Rahman spoke at the seminar as special guest
while Chairman of Bangladesh Trade and Tariff Commission Dr Moinul Khan and Deputy Resident Representative of UNDP, Bangladesh Sonali Dayaratne spoke as the guests of honour.
Bangladesh Competition Commission Chairperson AHM Ahsan presided over the event.
The seminar was jointly organised by the Bangladesh Competition Commission and the UNDP Bangladesh, said a Commerce Ministry press release.
RAPID Chairman Dr MA Razzaque made the keynote presentation at the seminar while BIDS Director General Dr AK Enamul Haque, Bangladesh Competition Commission Member Dr Afroza Bilkis, Economic Adviser of Foreign, Commonwealth and Development Office Isam Mosaddek and MCCI President Kamran T Rahman spoke as panel discussants.
The Commerce Adviser noted that due to the destruction of the capacity of the institutions over the last 15 years, there was a severe imbalanced distribution of resources while it created some crony capitalism in the country which had deterred the new competitors from entering the market.
Mentioning that the capacity of the Competition Commission was also destroyed during that period, he said the country's common people want to see the benefits of competition in their daily life. "The Competition Commission should have to be taken in that position," he added.
Stressing on ensuring fair competition in the market, Bashir suggested that the Commission should take steps against those unholy businesses which are affecting the growth of small businesses side by side taking tough steps against those who are amassing wealth through illegal means, evading tax and also hostageing the consumers. "We need to ensure the practice of fair competition in the market and fair distribution of the country's resources," he added.
