SUKANTA HALDER

The authorities are drafting amendments to the Competition Commission Act, enacted in 2012, to establish clearer criteria for identifying dominant market players across various sectors, according to officials.

The law was made to promote, ensure and sustain a congenial atmosphere for competition in trade and to prevent, control and eradicate collusion, monopolies and oligopolies, combination or abuse of dominant position, or activities adverse to the competition.

Officials said the changes aim to enhance regulatory oversight and support fair market competition. Clearly defining dominant market players has emerged as a key focus, as the commission seeks to mitigate potential anti-competitive practices by influential entities.

“While overseeing some cases, we found that the current act lacks a clear definition of who is dominating what sector,” said Afroza Bilkis, member for law at the Bangladesh Competition Commission (BCC), yesterday.

“It is not feasible to specify every dominant player in every sector within the act. Therefore, we are working to amend it in a way that allows subsequent rules to define such players more clearly,” Bilkis told The Daily Star.

According to Bilkis, the amendments will lead to the introduction of a market threshold clause, such as market share percentages, to provide a basis for identifying dominant players.

The commission formed a 13-member committee on February 16 this year to amend the law, including representatives from the legislative division, Federation of Bangladesh Chambers of Commerce and Industry, lawyers from the Supreme Court, academicians, and other relevant sector experts.

A draft of the amended law is scheduled to be submitted to the commission’s chairman by June 1. Following a stakeholder consultation meeting, the draft will be forwarded to the Ministry of Commerce.