Economic development efforts are valuable but insufficient.

Karachi : The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on Friday that the economic development efforts that are being made are valuable but not enough.

He said it is disturbing to learn that corruption has been on the rise in Pakistan, and this should be taken seriously.

Mian Zahid Hussain said that the government’s operations must be digitized to eradicate corruption and pave the way for national development.

Talking to the business community, the veteran business leader said that vigorous efforts are also needed to eliminate corruption to make sustainable development possible.

The business leader said that corruption has hollowed out society and that strict measures are necessary to combat it. In the current situation, Transparency International’s report on the increase in corruption in Pakistan is worrying and should be noted.

Mian Zahid Hussain said that according to the Corruption Perception Index recently released by Transparency International, corruption has increased in Pakistan.

The report states that Pakistan has fallen to 135th place in the Corruption Perception Index after a decline. According to the report, Pakistan’s ranking has increased to 27, while it was 29 in 2023. Pakistan’s ranking in corruption is based on data obtained from eight different sources.

Mian Zahid Hussain said that Transparency International’s report also explains the misuse of public resources, bribery for business, exposure to corrupt practices, and corruption in the political system.

The accountability of government institutions and employees is weak, and the control of influential groups has increased from 35 to 39. At the same time, the index of giving public funds to individuals or companies due to corruption has decreased from 45 to 33.

Transparency International has said that the score of use of public resources by the executive, judiciary, and legislators for personal purposes has increased from 25 to 26.

On the other hand, the level of corruption in the public sector, executive, judiciary, and legislative sectors has decreased from 20 to 14.

Mian Zahid Hussain said that corruption is deeply rooted in the country and that digitalizing government affairs is necessary to eradicate it. The National Accountability Bureau, the country’s central anti-corruption agency, faces allegations of political bias, ineffective performance, and selective accountability, damaging its reputation.

Misuse of resources and non-transparent decisions are common in other institutions, which further undermines public confidence. Corruption also affects the business environment.

Mian Zahid Hussain added that corruption reduces domestic and foreign investment and hinders economic development. The solution to the corruption problem lies in stable governance, reduced political interference, practical measures, digitalization, and better laws.

He said that until corruption is eliminated, it will be difficult to relieve the public and the business community, while domestic and foreign investors will also not take much interest.