The high-profile government panel on e-commerce thinks formation of a new law might not be needed, but little amendment to the existing laws will be enough to streamline the errant e-commerce business now.

The 16-member committee held its first meeting in the secretariat office of the commerce ministry today with representatives from 16 important ministries, departments and private sector trade bodies with AHM Shafiquzzaman, additional commerce secretary, in the chair.

"Most of the representatives in the meeting suggested amending the existing law to streamline the e-commerce business in the country now," Shafiquzzaman said in a media briefing after the meeting.

However, a sub-committee has been formed to recommend whether a new law is needed or the amendment of the existing laws are enough to protect the interest of the consumers and merchants, he said.

The sub-committee is scheduled to submit its report within next one month.

On September 27, the commerce ministry formed the 16-member committee to recommend how to discipline the e-commerce sector.