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Draft
competition law will be placed before cabinet body soon
Financial
Express, Bangladesh, November 01, 2009
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The
draft competition law will be placed before the
Cabinet Committee on Economic Affairs in November
to get it enacted by January next year, Commerce
Minister Faruk Khan said.
"Within next three to four months, the nation will
have the competition law," the minister said
expressing hope that when enacted, a fair
competitive market situation will gradually be
established in the country.
The
minister said this Saturday while inaugurating the
first ever course on Competition Policy and Law
organized by the United International University (UIU)
at its campus. Chaired by UIU Vice Chancellor Dr M
Rezwan Khan, the function was addressed among
others by Competition Policy Advisor of IFC, Dr
Rughvir Shyam Khemani and Pradeep Singh Mehta
,general secretary of Indian company CUTS , which
is conducting training courses.
The
commerce minister said the draft competition has
been prepared after consulting with all
stakeholders including international experts and
is expected to perform well to establish fair
competition in business.
He
said as there is lack of understanding about the
law, the government was counting on the opinions
of the experts to draft the law and hoped that it
would help serve both business and consumers.
"The
government is sincere to establish a fair
competition business environment in the country,"
Faruk Khan said.
The
commerce minister said prices of commodities in
the global market and use of technology have
become major challenges for the developing
countries like Bangladesh and it is necessary to
learn about the subjects to operate the market
properly.
The
minister expressed his confidence that the UIU
course on competition law would help develop
understanding and expertise about the law among
academicians, government officials, lawyers and
business leaders as it is important for proper
implementation of the law.
Farukh
Khan criticised the media for reporting on sugar
price hike without reviewing the frequently
changing prices in the global commodity market and
urged them to increase their understanding about
changed market scenario to report accurately.
This news item can also be viewed at:
http://www.thefinancialexpress-bd.com/
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