Regulatory failure against Summit’s illegal interest a serious concern

THE recent decision by the Bangladesh Telecommunications Regulatory Commission (BTRC) to reverse its earlier waiver of the share transfer fee for Summit Communications is a significant development with far-reaching implications.

This move has brought to light the potential for preferential treatment and political influence in the country’s telecom sector, raising concerns about transparency and accountability.

Summit Communications, a prominent player in the telecom and internet industry, has been closely associated with the ruling party.

According to a newspaper report yesterday, questions have raised about the fairness of its dealings with the regulator.

The initial waiver of the share transfer fee, based on legal opinions, was widely seen as a favour to the company.

The regulator’s decision to impose the fee is a welcome step towards greater transparency and accountability in the telecom sector.

It sends a clear message that preferential treatment will no longer be tolerated and that all companies must adhere to the same rules and regulations.

This move is likely to enhance public trust in the regulator and promote a level playing field for all industry players.

While Summit Communications has claimed to have fully complied with the regulator’s requirements, the decision to impose the fee raises questions about the extent of benefits the company may have received in the past.

A thorough investigation into the circumstances surrounding the initial waiver is necessary to shed light on any potential irregularities.

Going forward, the regulator must maintain a vigilant stance and ensure that all companies, regardless of their political connections, are treated fairly.

It is essential to establish robust mechanisms to prevent conflicts of interest and promote transparency in decision-making.

Additionally, the regulator should consider implementing stricter penalties for non-compliance to deter future violations.

The decision to impose the share transfer fee on Summit Communications is a positive step towards a more equitable and transparent telecom sector in Bangladesh.

There were many in the regime of ousted dictator Sheikh Hasina who gathered money by using regulatory loopholes and laundered our hard-earned cash for their vested interests abroad.

They all should be brought back to the country, and the money siphoned must be returned to block the vacuum of the state coffer.