NATIONAL NEWS
ISLAMABAD: In a significant move ahead of the IMF Executive Board’s upcoming assessment, Pakistan has made public the long-awaited Governance and Corruption Diagnostic Assessment Report — a key requirement under its current bailout program.
The document, compiled with support from both the IMF and the World Bank, takes a detailed look at Pakistan’s persistent governance challenges and lays out a series of reforms aimed at improving transparency, strengthening institutions, and boosting economic performance.
According to the report, corruption has remained deeply rooted in Pakistan’s system for more than seven decades, stalling economic progress and eroding public trust. Weak oversight, limited transparency, and inconsistent accountability mechanisms have collectively hindered growth.
Officials pointed out that some of the most damaging forms of corruption stem from influential groups, including those with direct links to government bodies, who divert public resources, manipulate markets, and impede fair competition.
Major Findings of the Diagnostic Report
Fiscal and Institutional Weaknesses
Significant inefficiencies in revenue collection and government expenditure
Poor performance in public sector operations
Limited capacity in both internal and external audit systems
Certain state-funded bodies functioning with minimal oversight, heightening corruption risks
Governance and Accountability Issues
Mixed performance of anti-corruption bodies, including the National Accountability Bureau (NAB)
Insufficient transparency in government decision-making
Very low public participation in shaping policies
Weak confidence in the judicial system, undermining accountability
Economic Impact
Corruption is cited as the biggest challenge by 11.1% of businesses — markedly higher than the South Asian average of 7.4%
Complicated regulations for business operations and foreign trade deter investment
Fiscal mismanagement raises borrowing requirements and exposes the country to external vulnerabilities
Read more: https://nayakashmir.com/pm-endorses-5-year-plan-to-strengthen-pakistans-flood-management/
