Business leaders and trade analysts have favoured stringent law to check multinational companies making hefty profit by alluring common people to have quick and fabulous return of their investments.
Tens of thousands of innocent people are being cheated by the unscrupulous practices of the companies due to absence of a legal basis to oversee their presence and functioning.
They were speaking at a seminar on 'Draft Direct Sales Act- 2011', jointly arranged by Bangladesh Tariff Commission and Metropolitan Chamber of Commerce and Industry in the conference room of the latter in the city on Monday.
The commerce minister, Faruk Khan, addressed the seminar as the chief guest while chairman of parliamentary standing committee on the ministry ABM Abul Qasem Khan addressed as special guest.
Commerce secretary Ghulam Hossain, MCCI president Amjad Khan Chowdhury, Tariff Commission chairman Mujibur Rahman, vice-chairman of Export Promotion Bureau Jalal Ahmed, editor of The Financial Express AHM Moazzem Hossain former commerce secretary Feroz Ahmed and representatives from different trade bodies also spoke on the occasion.
Amjad said although a large number of people were involved in various business practices for their living, self-employment but, the fact remained that many of them had fallen victim to fraudulent practices of the companies.
Appreciating the government for taking steps to make a direct sales law, the MCCI chief said penalties for possible violation for fraudulent practices should be included in the draft.
Feroz said there should be a clear understanding whether the government could play an important role in fixing the prices at retail level for protecting the consumers as well as businessmen.
'Some multinational companies will make limitless profit . it cannot be accepted, and any company wants to do such business must submit statement to the government before it starts,' said Golam Hosain.
Source : New Age
