Thursday, December 15, 2011

Corruption makes economy more expensive, less competitive

Corruption is making economy more expensive and less competitive, according to a former bureaucrat.
"Public procurement, public post 'auction', revenue cheating and policy level corruption hurt the economy making it expensive, whereas petty corruption and rent seeking mentality help create public perception about the corruption and government employee," said former finance secretary and economic advisor to the Prime Minister Ramehswor Prasad Khanal presenting his paper on 'Anti corruption and Good Governance: Challenges from Bureaucratical Dimension,' in an interaction on 'Good Governance — Zero Tolerance to Corruption' organised by Federation of Nepalese Chambers of Commerce and Industry (FNCCI) here in the Valley today.
"Petty corruption and rent seeking mentality create negative image of government employee but it doesnot hurt economy," he said, adding that public procurement, public post 'auction', and revenue cheating, however, hurt economy making the economy less competitive.
Similarly, corruption fuells black markets too. The world's shadow economy or the illegal economic activities, that go untaxed, accounts for 17 per cent of the global economy. Nepal's shadow economy is as big as formal economy that is not only bleeding the government coffer white, "but also channelising resources to the unproductive sectors widening the gap between the rich and poor," he added.
Khanal also tried to demystified the popular myths on corruption like all the government employees are corrupt and corruption is rising due to low pay scale. "The most corrupt are the ones, who are wealthy," former bureaucrat added. "Similarly, corruption is rampant in the private sector too but the people blame government employees only due to their popular perception."
Corruption is multi-pronged and due to massive corruption, Nepal is still in the group of Least Developed Countries (LDCs), whereas the ones in the same group with Nepal some three decades ago have upgraded, Khanal said, adding "Apart from strong political will, some simplification in processes, usages of IT and transparency will help check the corruption."He also prescribed to give more teeth to the CIAA Act and include provision to punish both bribe taking and giving parties to curtail corruption.
Chief secretary Madhav Prasad Ghimire concluding the two-day workshop urged the private sector to join hands in checking corruption.
"Institutional corruption is much more dangerous than individual corruption and making political parties more transparent could help reduce institutional corruption," he said, adding that the election system also has to be changed to encourage honest leaders.


Anonymous said...

I�m not that much of a online reader to be honest but your blogs really nice,
keep it up! I'll go ahead and bookmark your website to come back in the future. Cheers

Visit my homepage :: dating site women

Anonymous said...

magnificent put up, very informative. I ponder why the other specialists of this sector don't understand this. You must continue your writing. I'm confident,
you have a great readers' base already!

my site :: 100 dating website

Anonymous said...

Oh my goodness! an incredible article dude. Thanks Nevertheless I'm experiencing difficulty with ur rss . Don�t know why Unable to subscribe to it. Is there anyone getting similar rss problem? Anyone who knows kindly respond. Thnkx

my web site; 40 dating

Anonymous said...

Thanks for your useful article. One other problem is that
mesothelioma cancer is generally brought on by the breathing of materials
from mesothelioma, which is a carcinogenic material. It is commonly noticed among workers in the structure
industry who have long contact with asbestos. It could
be caused by living in asbestos protected buildings for an extended time of time, Genetics plays
a crucial role, and some folks are more vulnerable
towards the risk compared to others.

my blog:

Anonymous said...

I have figured out some new items from your web page about pc's. Another thing I have always assumed is that laptop computers have become something that each home must have for many people reasons. They offer convenient ways to organize the home, pay bills, search for information, study, hear music and in many cases watch tv shows. An innovative way to complete every one of these tasks is by using a notebook. These pc's are portable ones, small, powerful and mobile.

My site fuck book

Anonymous said...

My coder is trying to persuade me to move to
.net from PHP. I have always disliked the idea
because of the expenses. But he's tryiong none the less. I've been using
WordPress on various websites for about a year and am anxious
about switching to another platform. I have heard good things about blogengine.
net. Is there a way I can import all my wordpress content
into it? Any kind of help would be really appreciated!

Here is my web site - dating sites for free

Anonymous said...

Unquestionably believe that which you said. Your favorite reason appeared to be on the
net the simplest thing to be aware of. I say to you, I definitely get annoyed while people consider worries
that they plainly don't know about. You managed to hit the nail upon the top and also defined out the whole thing without having side-effects , people could take a signal. Will likely be back to get more. Thanks

Here is my blog post ... facebook for sex

Anonymous said... tramadol online pharmacy usa - tramadol hcl breastfeeding