Corruption Impeding Investment
Friday, July 10, 2009
The News International, Pakistan, Friday, July 10, 2009
ISLAMABAD: The World Bank finds corruption a serious and growing obstacle to the investment climate in Pakistan besides expressing dissatisfaction over the issue of governance in the country.
In its 128-page draft report on Pakistan’s Investment Climate dated March 16, 2009, the WB said that corruption is largely associated with business-government interface and reveals that the menace is more widespread here as compared to other countries though the bribe rates here are lower. Referring to a survey conducted for the formulation of the draft report, the Bank says that results show that perceptions about corruption in Pakistan are based on actual experiences with paying bribes by the investing firms. It reveals that the firms making investment in Pakistan have to pay bribes even to get water, telephone and electricity connections.
More
ISLAMABAD: The World Bank finds corruption a serious and growing obstacle to the investment climate in Pakistan besides expressing dissatisfaction over the issue of governance in the country.
In its 128-page draft report on Pakistan’s Investment Climate dated March 16, 2009, the WB said that corruption is largely associated with business-government interface and reveals that the menace is more widespread here as compared to other countries though the bribe rates here are lower. Referring to a survey conducted for the formulation of the draft report, the Bank says that results show that perceptions about corruption in Pakistan are based on actual experiences with paying bribes by the investing firms. It reveals that the firms making investment in Pakistan have to pay bribes even to get water, telephone and electricity connections.
More
Labels: Corruption, Development, Foreign Investments, Governance
posted @ 9:26 AM,
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