The New Nation - Internet Edition

UNB, Dhaka

Commerce Minister Faruk Khan Saturday said his ministry will move to enact a new law to curb unscrupulous syndication in business and remove all obstacles towards doing business through fair competition.

He also disclosed the government's plan to set up a commission under the proposed law to monitor its enforcement and curb unprofessional conducts in competitive business.

"We've already prepared a draft for the proposed law and it'll be placed in parliament within months. We're reviewing the matter relating to formation of the commission," he told a seminar on the issue at a city hotel.

Unnayan Shamannay and CUTS International, two NGOs, jointly organized the seminar on Need for Capacity Building on Competition Policy & Law in Bangladesh in cooperation with a number of donor agencies.

The proposed law will be named as 'Bangladesh Competition Act', while the Commission as 'Bangladesh Competition Commission'. As per the proposed law if any person or business firm is found involved in any syndication that restricts fair competition, then the commission will have the legal authority to take punitive actions against the person or the firm.

In that case, the commission can fine up to Tk 10 lakh and detain the corrupt person in civil prison for up to one year.

If the person or firm penalized fail to pay the fine imposed under this Act, s/he could be detained in civil prison for a term which may be one year unless, in the meantime, the commission directs his or her release, and s/he may also be liable to a penalty not exceeding Tk 10 lakh.

However, the order of the commission cannot be challenged in any court unless an appeal is made with the High Court Division. Faruk Khan said many countries in the world have similar independent commissions to ensure fair competition in business and ensure equal right to do business. "We also want to ensure fair competition. That's why we're moving to enact the law.

Additional Attorney General Enayetur Rahim and Dr AK Enamul Haque also addressed the seminar.