'Pak Govt. can save four billion dollars by ridding rampant corruption in procurements'

Islamabad, June 21 (ANI): Pakistan can save over four billion dollars annually and reduce its dependence on the International Monetary Fund (IMF) if it gets rid of the massive corruption in official procurements, Transparency International (TI) has said.

A statement issued by TI Pakistan's chairman Syed Adil Gilani said that billions of dollars could be saved if the government curbs the rampant corruption in its various departments, which would prove to be of great help at a time when the country is reeling under a severe financial crunch.

"The government can save four billion dollars only by implementing the Public Procurement Rules 2004 in the federal government, armed forces and all the four provinces and corporations, authorities, and trusts," The News quoted the statement, as saying.

"Pakistan can save at least 30 per cent, i.e. 360 billion rupees (over four billion dollars) which is the direct cost in Pakistan of corruption in procurement only," Gilani said.

He also criticised different government departments for 'begging for foreign aid.'

"The foreign aid is in fact not grant but loan, and has to be repaid by the future generations of Pakistan," the statement added. (ANI)