ISLAMABAD: The Transparency International Pakistan has warned the government that non-promulgation of the Competition Commission of Pakistan Ordinance of 2007 will damage the country’s image in the world and may cause irreparable loss to flow of foreign direct investment and delay in financing by donor agencies.
TIP chairman Syed Adil Gilani said in a statement issued here on Friday the Corruption Perception Index-2010 of Transparency International would be based on surveys carried out by the World Bank, Asian Development Bank, Economist Intelligence Unit and the World Economic Forum.
The ranking of a country depends on the status of good governance reform carried out by it.
He said Pakistan was already very low in CPI and needed to take major actions to improve its rating which was used by donor agencies while considering donation requests.
He said that within the preview of a committee headed by the finance minister, the TIP had called for replication of the structure of regulatory authorities on the pattern of Competition Commission of Pakistan, which was crucial for elimination of corruption from the system.
TIP’s recommendations which were accepted by the committee related to regulatory authorities like SECP, CCP, PPRA, EPA, SBP, Ogra, Pemra, PTA, PFRA and Nepra be fully autonomous, comprising professionals without any nominations from the government.
Such regulatory authorities should be financially self-generating entities, not dependent on government finances, and answerable to the Public Accounts Committee.
He said the CCP Ordinance was the result of the Poverty Reduction Support Programmes initiated by the World Bank signed in 2004 for 2005-06, under which the Monopoly Draft Act of 1978 was to be replaced with the CCP Ordinance by 2007. In case the CCP Ordinance was not re-promulgated under pressure from vested interests, he said, all future funding might be delayed.
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