Staff Correspondent:

BNP Standing Committee Member Amir Khosru Mahmud Chowdhury said on Wednesday that if BNP comes to power, it will take steps to reduce excessive regulations in business, commerce and the economy, as Bangladesh has become overly regulated.

“If there is a chance (to come in power) in the future, we will seriously deregulate. Serious liberalisation needs to be done here in Bangladesh. All the economies that are now developing in the world are going for deregulation every day,” he said.

The BNP leader made the remark while addressing a roundtable seminar arranged by Bangladesh Ship Breakers and Recyclers Association in a city hotel.

He stressed the need for deregulation to improve governance in Bangladesh, stating that reducing regulations is essential for better governance.

“Bangladesh is an overregulated country. This country has become very overregulated,” said the former commerce minister.

Due to excessive control, he said, businesspeople are left with no energy to conduct their businesses. “It must be seriously freed from control,” he added.

Pointing to trade bodies and associations, he emphasised that industries and trades, ranging from shipbreaking to recycling, should cultivate a culture of self-regulation.

“If there is a change of the government in the coming days and if we will get any opportunity, we will empower the trade bodies wherever possible so that they can self-regulate,” said Amir Khosru.

“The more government control is reduced, the better the country will function. The more control is lifted, the faster the country can move forward,” he said.

The BNP leader said the trade associations must be empowered and given power so that they can do self-regulation. “The government watchdog bodies just to watch them (industries and businesses)… There is no other way for an industry to do self-regulation,” the BNP leader said.