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Home Op-Ed Editorial

Role of corruption in economy

byDr. Aftab Afzal
06/12/2016
in Editorial, Latest News, Op-Ed
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Corruption is the global phenomenon which more or less prevails in every nation and economy. It is a real threat to the economy of a nation at the official level, but a catalyst for trade, business and industry in unofficial domains, specifically in developing countries. According to a report of the US journal Foreign Policy, corruption and graft have a role in the global economy but a host of evils are attached to it including, drug smuggling and human trafficking. At least $1.5 trillion or about 5 percent of the global gross domestic product change hands every year. The report puts Pakistan at 166 with 74 score and India at 178, showing that it is at least 12 scales worse than Pakistan. In a list of 199 countries, showing transparency and less bribery, Sweden is on the top, Pakistan is numbered at 33 and India at 21. Sweden is on the top with a score of 10, New Zealand at 15 and Estonia at 17. The country with rampant bribery in the world is Nigeria, having a score of 99.

According to experts, unbridled authority in the hands of government officials, ambiguous and complex laws as well as administrative failures are the leading causes of corruption and bribery. In most of the developing countries, officials are given unbridled authorities to use and misuse laws for their own benefits. It was the legacy of the colonial powers to lend authorities to the officials, but to keep them underpaid. This allowed the officials to use their own methods to generate money. Bribery at the individual level is mostly not harmful but it can bring terrific consequences when is used to launch terrorist activities. A study shows that at least 60 percent countries have an increased risk of bribery as it was two years ago while bribery risk have decreased in 32 percent countries. Bribery is rampant in Pakistan and it is a classic case of administrative failure. The anti-bribery institutions, which were set up at the federal and provincial levels, themselves have become dens of corruption. Strict laws in the hands of the officials with little knowledge of morality, ethics and religion, play principal role in the ramification of corruption. Corruption starts from bottom and goes upward to the highest level and those responsible for checking unethical practices have themselves become part of the system.

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The government should revise and soften the laws with little authority at the hands of the officials. Corruption prevails in every country, but it has limits. In Pakistan’s case, limits are unlimited and unless officials involved in corruption are punished without discrimination, there will be no letup in unethical practices.

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