DHAKA, June 29, 2024 (BSS) - Bangladesh Competition Commission (BCC) and media can jointly play an important role in building a competitive business environment and ensuring fair business practices in the country.

In this regard, the BCC is ensuring fair competition by preventing anti-competitive behavior such as monopolistic market arrangements or cartels, which is helping to drive the country towards sustainable economic growth through innovation and productivity growth.

Prodeep Ranjan Chakraborty, Chairperson of the BCC, said this while speaking as the chief guest at a seminar on 'Implementation of the BCC Act and Role of Media to Establish a Fair Competition in the Market', held at the Auditorium of the Economic Reporters' Forum (ERF) in the capital today.

The BCC and ERF jointly organized the event. The BCC Chairperson said the commission's efforts in promoting fair competition, market efficiency, consumer protection, and strong institutions are contributing significantly to the development of Bangladesh.

"To maintain a fair competitive environment in business, the Commission has strengthened the market monitoring system and is properly conducting the investigation of cases filed for anti-competitive activities," he pointed out.

 Md. Hafizur Rahman, a member of BCC in a presentation, highlighted the implementation of 'The Competition Act 2012'. The BCC filed 97 cases, of which 51 cases were disposed of through fines and punishment.

 Besides, the commission issued 74 'Suo Moto' cases observing abusing the Commission Act by different companies, he said.

 He emphasized that the consumer will get the best product at a competitive price if 'The Competition Act' is implemented fully.

 ERF president Refayet Ullah Mirdha presided over the meeting. The BCC members Sowdagar Mustafizur Rahman and Salma Akhter Jahan also spoke in the programme. ERF assistant general secretary Mizanur Rahman moderated the event.