telecommunications through awarding of Interconnection Exchange (ICX) licenseto resolve the issue. BTRC on 26 July 2007 issued a directive to all mobileoperators mentioning various aspects of tariff structure with cap and floor. Thetelecommunication and information technology is undergoing phenomenaltransformations in its contents and character, the policy and regulatory approachescould absorb the impact. In fine, consumer’s interest is protected throughestablishing a liberal, competitive and market oriented regime and it is wellunderstood that one regulates the best when one regulates the least.During the last 10 years Bangladesh’s economy has regained pace and GDPgrew at a consistent rate. Increased economic activity, reflected in the GDPgrowth, is the key driver behind the increase in the business expansion; the countryhas also seen an emergence of progressive entrepreneurs. Overall, GDP growth inFY09 is likely to be around 6.0 percent and if no drastic shock affects the economyand business confidence and investment climate improve further, the economycould grow faster. The growth rate of industry and service sector stands at 6.9%and 6.7% respectively against 7.4% for industry in 2007-08. The broader industrysector includes manufacturing, mineral resources, electricity, gas & water andconstruction sector. Telecommunication sector shows steady growth during the lastcouple of years. The telecommunication industry of Bangladesh as a wholepossesses great potential. Penetration rate of 32.04% of wireless as of June 2008,indicates it’s comparability to other neighboring countries. At the very inception,cell phone usage was expensive and could only be afforded by the affluent. Well-established foreign and local companies have invested heavily for the developmentof the telecommunication infrastructure of Bangladesh thereby creating acompetitive environment, which has eventually led to drastic reduction in tariffs.