Lack of transparency, weak public accountability and judicial system, over legislation are major causes of corruption and considered as the most tedious challenges faced by the business community in Pakistan .
Mahfooz Elahi, President Islamabad Chamber of Commerce & Industry (ICCI) has made these remarks while addressing at a Roundtable on “Bribery and Corruption: A major cause of poor economic performance”. The event was jointly organized by ICCI, Centre for International Private Enterprises (CIPE) and the Association of Chartered Certified Accountants (ACCA).
ICCI President said that menace of corruption has badly damaged the economy and image of Pakistan in the world. He proposed of forming an impartial body of stakeholders, and engaging media for creating awareness about bribery and corruption and its sever impact on society as a whole.
He said that ICCI undertaken the initiative by bringing together parliamentarians and private sector representatives at one platform to develop a mechanism to reduce corruption and also to support the government in overcoming this speedily spreading virus.
Speaking on the occasion, Khurram Dastagir Khan, Member of National Assembly and Chairman of Standing Committee on Commerce said that corruption is a moral hazard and lauded business community for taking an initiative to reduce corruption. He said that Corruption happens when government tries to intervene in the pricing mechanism and stressed on absolute transparency, removing quota systems and massive deregulation to reduce incentive for corruption. Business community must help parliamentarians in initiatives to reduce corruption, he added.
Ms. Marvi Memon, Member of National Assembly said that corruption has to be addressed at the top. She said that government, stakeholders, media, judiciary, parliamentarians and business community should develop nexus to fight against corruption.
Arif Masud Mirza, Head of ACCA Pakistan speaking at the occasion said that one should have to play a role of a whistle blower against corruption. He said that through fair completion and acquiring individual ethics corruption can be reduced and stressed on the need of deep rooted commitment at all levels to curb rising corruption.
Moin Fidda, Country Director CIPE proposed that private sector must demand honest people in Federal Public Service Commission and Provincial Commission and also hire people on merit and taxpayer’s money should not be wasted in corruption activities.
Shaban Khalid, Former Vice President of ICCI said that long term approach is required to reduce corruption slowly and government should take a first step by acting as a role model. This collective action would then increase the impact of individual actions and help raise the trust of the business community being a partner for fighting against corruption, he said.
Mrs. Fatima Azeem, Executive member of ICCI said that transparency in political system and reformed regulations were required to address the issue of corruption. She emphasized on introduction of automation of systems because with less direct interaction with government departments corruption can be reduced.
Mahfooz Elahi, President Islamabad Chamber of Commerce & Industry (ICCI) has made these remarks while addressing at a Roundtable on “Bribery and Corruption: A major cause of poor economic performance”. The event was jointly organized by ICCI, Centre for International Private Enterprises (CIPE) and the Association of Chartered Certified Accountants (ACCA).
ICCI President said that menace of corruption has badly damaged the economy and image of Pakistan in the world. He proposed of forming an impartial body of stakeholders, and engaging media for creating awareness about bribery and corruption and its sever impact on society as a whole.
He said that ICCI undertaken the initiative by bringing together parliamentarians and private sector representatives at one platform to develop a mechanism to reduce corruption and also to support the government in overcoming this speedily spreading virus.
Speaking on the occasion, Khurram Dastagir Khan, Member of National Assembly and Chairman of Standing Committee on Commerce said that corruption is a moral hazard and lauded business community for taking an initiative to reduce corruption. He said that Corruption happens when government tries to intervene in the pricing mechanism and stressed on absolute transparency, removing quota systems and massive deregulation to reduce incentive for corruption. Business community must help parliamentarians in initiatives to reduce corruption, he added.
Ms. Marvi Memon, Member of National Assembly said that corruption has to be addressed at the top. She said that government, stakeholders, media, judiciary, parliamentarians and business community should develop nexus to fight against corruption.
Arif Masud Mirza, Head of ACCA Pakistan speaking at the occasion said that one should have to play a role of a whistle blower against corruption. He said that through fair completion and acquiring individual ethics corruption can be reduced and stressed on the need of deep rooted commitment at all levels to curb rising corruption.
Moin Fidda, Country Director CIPE proposed that private sector must demand honest people in Federal Public Service Commission and Provincial Commission and also hire people on merit and taxpayer’s money should not be wasted in corruption activities.
Shaban Khalid, Former Vice President of ICCI said that long term approach is required to reduce corruption slowly and government should take a first step by acting as a role model. This collective action would then increase the impact of individual actions and help raise the trust of the business community being a partner for fighting against corruption, he said.
Mrs. Fatima Azeem, Executive member of ICCI said that transparency in political system and reformed regulations were required to address the issue of corruption. She emphasized on introduction of automation of systems because with less direct interaction with government departments corruption can be reduced.
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