Financial irregularities hit spotlight
FINANCIAL irregularities to the tune of nearly Tk6,200 crore has been detected by the Office of the Comptroller and Auditor General (CAG). In its first ever media presentation, the data was compiled from 17 different audit reports and made public. It is sad to see that Bangladesh Telecommunications Regulatory Commission (BTRC) has topped the list of defaulters. Not only has there been gross negligence involved in realising fines and fees, serious anomalies have been detected in the manner in which licenses have been handed out in the telecom industry. The state-run banking sector remains on the CAG radar as having indulged in malpractice on the question of rescheduling of loans and interest waivers. Ministries have been found to have meddled in unlawful practices when it came to tendering.
Startling as the revelations may be, the problems associated with graft and abuse of power is an old one. The CAG is the sole authority that can check fraudulent practices in the State bodies. And although nearly Tk77 crore has been spent to carry out these audits, the CAG has for years been kept understaffed. Now why is that? The only plausible explanation would be to protect vested interest groups which indulge in such unlawful practices. Overlooking corruption is a fatal mistake, for it steadily strips away at already eroded state of governance as corrupt officials manipulate the system to benefit themselves. Graft also drains away critical resources needed for economic development.
Comments