Competition act necessary for a sustainable economy
Bangladesh Competition Commission Chairperson Mofizul Islam said that people are hardly aware of the Competition Act which has no alternative to making the economy sustainable.
Besides, innovation skill is necessary to survive in the open market economy along with productivity, he said on Wednesday at a discussion programme on the competition act organised by Chattogram Chamber of Commerce and Industry, a release issued by the chamber said.
Mofizul Islam said that the objective of the act is to monitor and control the market system and not to harass the businesses. It will also identify and prevent any vicious move by any unscrupulous businesses or vested groups to destabilise or manipulate the market.
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A memorandum of understanding was signed between the Centre of Excellence of Chattogram chamber and competition commission aiming to create awareness among the businesses.
Mofizul Islam and Chamber President Mahbubul Alam signed the MoU on behalf of their respective parties.
Mahbubul Alam said that there is not enough skill to analyse the relatively new competition act. Besides, the business policies are fast changing with the fast-moving world.
