A senior business leader today sounded the alarm over systemic corruption crippling Pakistan’s economic potential, claiming the nation is losing out on 5 to 6.5 percent in annual GDP growth due to graft.
Responding to a damning International Monetary Fund (IMF) report, Aman Pracha, Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), in a statement called upon the country’s top civil and military leadership to urgently implement 92 key reforms to combat the menace.
Pracha described the IMF’s Governance and Corruption Diagnostic (GCD) Assessment Report as both “factual and alarming,” concurring with its conclusions on weak governance, a deteriorating rule of law, and the widespread, severe corruption plaguing state institutions.
He specifically urged Prime Minister Mian Shehbaz Sharif and Field Marshal General Syed Asim Munir to enact the extensive reforms recommended by the international lender.
The FPCCI official highlighted the IMF”s specific recommendations to fortify and guarantee the independence of primary anti-graft institutions such as the National Accountability Bureau (NAB), the Federal Investigation Agency (FIA), and provincial anti-corruption establishments.
The business leader advocated for greater autonomy for these bodies, an improved appointment process for the NAB chairman to bolster high-level probes, expanded investigative capacities, and the establishment of robust internal accountability mechanisms. He also insisted that provincial anti-corruption agencies must be granted complete independence.
To enhance transparency, Pracha proposed the creation of a central authority involving the Federal Board of Revenue (FBR), Parliament, and the Establishment Division. This body would be tasked with compiling, digitising, and publicly disclosing the assets and resources of senior government officials.
He further stressed the necessity of adopting a risk-based approach within the nation”s anti-corruption agencies. He called for enhanced coordination and intelligence-sharing between NAB, the Auditor General of Pakistan, and the FBR to better identify suspicious transactions and reinforce investigations.
According to Pracha, successfully enacting the IMF”s recommendations would not only significantly curtail corruption but also redirect vast sums of money from private pockets back to the national treasury, paving the way for economic stability and prosperity.
Drawing a direct link between graft and human suffering, Pracha pointed out that in a nation of nearly 250 million, an estimated 107.2 million people subsist on less than four dollars a day. He stated that with over 40 million citizens officially living below the poverty line, eliminating entrenched corruption is crucial for significant poverty alleviation.
In his concluding remarks, Pracha urged the nation’s leadership to move beyond “rhetorical commitments” and take “practical and decisive measures.” He also implored parliamentarians to play a meaningful role in advancing the necessary anti-corruption reforms.