Competition Commission and economic development https://www.observerbd.com/news.php?id=351181 Published : Monday, 31 January, 2022 at 12:00 AM 74 M S Siddiqui Competition Commission and economic development Free markets have the potential to provide great improvements in living standards, channelling resources to productive uses and providing consumers with quality and choices. Sometimes, though, abuses of market power by firms can undermine many of these potential benefits. The presence of many firms in a market does not ensure competition. Under certain conditions, Enterprises may be able to collude with each other to create and abuse market power, for example by agreeing to raise prices or by restricting output resulting in raising prices to consumers or by restricting wage growth for workers. Price-fixing, bid-rigging, and market-allocation agreements among firms' harm competition and increase
Bangladesh Competition Commission is still behaving like a department of government. It must have legal expert on commercial law and practice. The members of CC should be economist as well. Only administrative experience is not enough to understand the market and competition as well as promoting economic development to competition.
