Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Saturday, September 22, 2018 12:35:41 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter
BREAKING NEWS:

Commentary

Govt has to be freed of corruption

By Editorial Desk
25th-Oct-2014       
Comments
Share your thought
Post a comment »
Read all () »

Corruption is the main factor that increases microeconomic risks in Bangladesh and also acts as a risk multiplier for other distortions, a joint UK and US study revealed recently as reported by this daily on Thursday. The study titled 'The Inclusive Growth Diagnostic Study' was jointly funded by UK Aid and US Agency for International Development [USAID]. The British government and the USAID produced the study surveying the investment climate in Bangladesh and identifying the importance of addressing energy availability and protecting property rights.
Corruption is one of the main obstacles to sustainable economic, political and social development, for developing, emerging and developed economies alike. Overall, corruption reduces efficiency and increases inequality. Estimates show that the cost of corruption equals more than 5% of global GDP (US$ 2.6 trillion, World Economic Forum) with over US$ 1 trillion paid in bribes each year (World Bank). It is not only a question of ethics; we simply cannot afford such waste. IMF research has also shown that investment in corrupt countries is almost 5% less than in countries that is relatively corruption free. The World Economic Forum estimates that corruption increases the cost of doing business by up to 10% on average.
Other international studies also indicate that money of most of official development assistance, is stolen through high level corruption from public budgets in developing countries and hidden overseas.
Using ordinary least squares estimations an economist finds that a 1.0 percent increase in the corruption level reduces growth about 0.72 percent, which translates to a one-unit increase in the CPI reducing the ECG rate by 0.545 percentage points. He argues that the most important channel through which corruption affects growth is political instability—accounting for about 53 percent of the total effect. The analysis also finds that corruption reduces the level of human capital and the share of private investment (Journal of Comparative Economics, March 2001).
All of the facts are universally known—then why doesn't corruption stop? The answer is simple—the political and moral culture of developing countries like Bangladesh, among others, are completely apathetic towards the reduction of corruption. It is anathema for the parties which make up our political culture of kickbacks and palm greasing to do anything to reduce corruption, as it would be ultimately harmful to their interests. The fact that it would be harmful to the nation is completely lost on them. A culture of 'only our pockets should be filled' has emerged out in our power structure(s). Here, the politicians—who are in reality business persons engaged in politics to safe-guard their ill-gotten wealth—and the permanent government have formed a well-knitted interest group who acted in unison to amass more wealth. All state institutions have joined the state sponsored corruption for the purpose of personal gains.
We must have a corruption free government. With that aim, the Anti-Corruption Commission was given independence. But the Commission lacks guts and courage to keep the government corruption free. 

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Rohingya crisis: UN is helpless without active cooperation of int'l community


THE United Nations was established with a mission to stop brutality and promotion of human rights across the globe but at present is apparently helpless to stop the Myanmar military atrocity on Rohingya ethnic community. Though the Universal Declaration of Human Rights, International Covenant on Civil and Political Rights, the ...

Cricket »

India rout Pakistan by eight wickets in Asia Cup


AFP, Dubai :India crushed Pakistan by eight wickets in their long-awaited Asia Cup match which failed to live up to its hype in Dubai on Wednesday.Pace spearhead Bhuvneshwar Kumar (3-15) and part time off-spinner Kedar Jadhav (3-23) sent Pakistan, who won the toss and batted, collapsing to just 162 all ...

Football »

We aim to play SAFF U-16 Women's final: Choton


Bangladesh U-18 national women's football team head coach Golam Rabanni Choton said they aim to play the final of the SAFF U-18 Women's Championship which is scheduled to be held from September 28 to October 7 in Thimpu, Bhutan.He was speaking at a pre-departure press conference on Thursday at the ...

International »

US-North Korea relations making 'tremendous progress': Trump


President Donald Trump on Wednesday said US relations with North Korea are making "tremendous progress" from the days before his presidency when the two countries appeared close to "going to war."Trump said a recent letter from North Korean leader Kim Jong Un confirmed the positive track, which he said has ...

City »

Newly elected executive members of Bangladesh Photo Journalists Association paid a courtesy call on Shipping Minister Shajahan Khan at his ministry on Thursday.


Entertainment »

Not always necessary to do issue-based films: Yami Gautam


Actress Yami Gautam, who stars in Batti Gul Meter Chalu, says it is neither necessary nor possible for an actor to do issue-based films all the time. Yami was interacting with the media here on Wednesday at a promotional press conference of the film that releases on Friday. She was ...

Football »

Japanese MMA star Norifumi 'Kid' Yamamoto dies at 41


Tributes flowed Wednesday for charismatic Japanese Mixed Martial Artist ( MMA) Norifumi "Kid" Yamamoto, who died at age 41, three weeks after announcing a battle with cancer.Born to a family of wrestlers and martial artists, the wiry, tattoo-covered Yamamoto took on larger opponents in a wide range of MMA events, ...

Editorial »

Ecological danger for destroying forest by Rohingyas


A STUDY has revealed that 4,300 acres of hills and forests have been razed in Cox's Bazar to set up refugee camps and cooking fuel for Rohingyas who fled ethnic cleansing in Myanmar. Quoting the study, news media reported that about 3,000-4,000 acres of hill land at Teknaf and Ukhia ...

International »

Kim agrees to dismantle main nuke site if US takes steps too


AP,  Pyongyang :The leaders of North and South Korea announced a wide range of agreements Wednesday which they said were a major step toward peace on the Korean Peninsula. But the premier pledge on denuclearization contained a big condition, with North Korean leader Kim Jong Un stating he'd permanently dismantle ...

International »

Sex with Trump 'least impressive' she's ever had: Daniels


Stormy Daniels, the porn star who claims to have slept with Donald Trump over a decade ago, says in her upcoming tell-all book that it may have been the "least impressive sex" she'd ever had, The Guardian reported Tuesday.In her book, "Full Disclosure," Daniels also provides a graphic description of ...

Entertainment »

I`m seen as a fierce and opinionated woman post Bigg Boss: Hina Khan


Actor Hina Khan believes Bigg Boss helped her showcase her real personality, which is that of a woman who does not shy away from speaking her mind. The actor became one of the most talked about contestants on the 11th edition of the reality TV show, which has just begun ...

City »

Dhaka University teachers formed a human chain programme on the campus on Wednesday demanding release and proper treatment of BNP Chairperson Khaleda Zia.


Editorial »

We welcome Islamabad for awarding Bangladeshi-origin refugees Pakistan`s nationality


PAKISTAN government has decided to grant nationality to all Pakistan-born refugees of Bangladeshi and Afghan origins staying there for decades. Prime Minister Mr Imran Khan on Sunday made this announcement during his maiden visit to Karachi, saying the Bangladeshi and Afghan refugees who were born in Pakistan would get National ...

Sports »

Argentina's Facundo Conte (left) and teammate Alexis Gonzalez celebrate during the Men's World Championships' volleyball match between Argentina and Slovenia, in Florence, Italy on Monday.


Football »

FIFA president Infantino has doubts about La Liga match in Miami


AFP, Barcelona :FIFA president Gianni Infantino has expressed concern about La Liga's proposal to stage a fixture between Girona and Barcelona in the United States.The two clubs have each approved a request submitted to the Spanish Football Federation for the match to be played at the Hard Rock Stadium in ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news