A COMPREHENSIVE COMPETITION LAW IN BANGLADESH

Abstract

Widespread anti-competitive business practices, including hoarding and restrictive supply of essential commodities, collusive price-fixing, abusive monopoly, etc hurt consumer interests, hamper orderly market growth, and retard overall economic development in Bangladesh. But there is no competition policy or legal framework in the country to prevent such malpractices. Pro-competition economic policies coupled with a competition law can help a country in promoting a competitive market economy. Competition legislation is an effective tool against collusive cartels, unscrupulous market dominance and monopoly, unfair mergers and acquisitions, and other anti-competitive business practices. Many developing nations, including neighbouring India, Pakistan, and Sri Lanka have well-structured competition regimes. Bangladesh should urgently consider enacting a comprehensive competition law. The Government, civil societies, consumer organizations, and other concerned stakeholders should come forward in this regard.