The Straits Times
www.straitstimes.com
Published on Dec 13, 2012
 

Pakistan wastes up to $88m a day: Anti-corruption watchdog

 
 

ISLAMABAD (AFP) - Pakistan wastes a whopping US$51 million (S$62.3 million) to US$72 million every day as a result of inefficiency, corruption and tax shortcomings, the head of an anti-corruption watchdog said Thursday.

The National Accountability Bureau (NAB) said the losses come from leaks, corruption and incompetence, tax losses, land grabbing, loans and defaults, overstaffing, energy losses, project delays, cost overruns, administrative costs and foreign exchange outflow.

"There are daily losses of five to seven billion rupees," NAB chairman Fasih Bokhari told a news conference.

But he did not explain how he had calculated the losses in monetary terms to reach this staggering estimate of wastage.