PDP for strengthening regulatory institutions to end corruption
KARACHI: Strengthening our regulatory institutions is a must to end corruption and improve good governance in our society, said Pasban Democratic Party (PDP) Chairman Altaf Shakoor here Sunday.
He said that strengthening regulatory bodies is a crucial step in combating corruption because it enhances their ability to detect, prevent, and punish corrupt practices. He said that stronger regulatory bodies have better resources like technology and personnel, finding to monitor government and private sector activities. They can conduct regular audits, inspections, and real-time tracking to reduce opportunities for corruption.
He said that empowered regulators can impose harsher penalties like fines, bans, and prosecutions on corrupt individuals and organizations. He said the fear of consequences deters potential wrongdoers. It also helps in reduced discretionary powers. He said transparent procedures minimize officials' ability to exploit loopholes for bribes or favouritism. He said automation of processes like e-governance reduces human interference.
He said strong regulators ensure safe channels for whistle blowing or reporting corruption without retaliation. He said this public trust increases, encouraging more people to expose wrongdoing.
Altaf Shakoor said mandatory disclosures like asset declarations and open contracting make transactions traceable. He said that probe bodies should be depoliticized, as the independent anti-corruption agencies can investigate impartially. He said that robust regulators can collaborate across borders to tackle money laundering, tax evasion, and illicit financial flows.
He said we should replicate the models of successful international anti-corruption bodies, like Singapore's Corrupt Practices Investigation Bureau (CPIB), whose strong legal powers and zero-tolerance policies have kept corruption low. He said another example is Estonia's Digital Governance, which has reduced bureaucratic corruption via transparent e-services.
PDP Chairman suggested that political interference in regulatory bodies must be eliminated. He said adequate funding and training are essential for effectiveness. He said by making regulatory bodies independent, well-resourced, and transparent, our government can significantly curb corruption and promote fair governance.
Altaf Shakoor demanded legal & institutional reforms to enhance independence of regulatory bodies. He asked to pass laws to insulate regulators from political interference, create autonomous oversight bodies, update anti-corruption laws, and criminalize bribery, embezzlement, and illicit enrichment explicitly.
He asked to strengthen whistleblower protection laws, besides capacity building, better training and more funding for the regulatory authorities.
He suggested adopting modern technology AI, block chain for audits. He asked for training of their staff in forensic accounting, cyber-investigations, and international anti-money laundering (AML) standards. He asked the ruling and opposition political parties to support these initiatives to give our society a better good governance.
Copyright Business Recorder, 2025
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