Islamabad: Qamar Zaman Chaudhry, Chairman, National Accountability Bureau (NAB) recently called corruption a major obstacle in the social and economic development of the country.
In his meeting with the President, FPCCI, Abdul Rauf Alam Chairman NAB said that the institute is trying its level best to make Pakistan corruption-free in order to enable both the masses as well as the business community to reap the dividends of the country’s progress, said a press release issued here on Wednesday.
He stressed that corruption usually leads to a lack of confidence as well as reinforces suspicions against both local and foreign investment, which do not serve the national interests. Chaudhry noted that corruption triggered a chain reaction and also lead to injustice, mistrust and suspicion, which in turn created a sense of insecurity among the foreign investors.
He further added that even though good governance ensures the attainment of maximum benefits at a minimum cost in terms of efficiency, productivity and quality, however, all such efforts are rendered meaningless if the malaise of corruption is not checked. NAB had chalked out a comprehensive National Anti-Corruption Strategy for the eradication of corruption and corrupt practices throughout the country, he noted.
The President FPCCI also apprised Chaudhry about several reservations and problems of the business community and said that the reduction in corruption will increase both local and foreign investment, and resultantly improve the confidence of the investors as well as masses. He said that the revenue potential of the country is three times that of the current collections, which can only be realised by improving the confidence of the taxpayers in the system in order to put an end to the country’s dependence on foreign loans
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