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`Pakistan losing Rs 6-7 bn daily due to corruption`

Last Updated: Friday, December 14, 2012 - 13:44

Islamabad: Pakistan wastes nearly six and seven billion rupees on a daily basis as a result of inefficiency, corruption and tax shortcomings, a watchdog has claimed.

Admiral (retd) Fasih Bokhari, the head of the country’s top accountability watchdog National Accountability Bureau (NAB), said that the figures are based on annual direct losses as evident from various indicators.

While addressing the press conference, he pointed out that, globally, tax contributes 17-20 percent to the economy, while in Pakistan, tax contributes only nine percent, the Express Tribune reports.

“Corruption is no longer party or incident centric but is now an attitude across the board,” the paper quoted him, as saying.

Bokhari added that a rough estimate suggested that the already incredible figure could reach up to Rs 10-12 billion.

According to the paper, he also pointed out that, in the energy sector, losses due to loadshedding are approximately Rs 960 billion per year, two percent of Pakistan’s GDP.

Bokhari said that by releasing the figure he did not mean to provide an agenda to the caretaker setup, but rather aimed to keep the country on the right track.


First Published: Friday, December 14, 2012 - 13:44
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