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Sri Lanka: Backwards in Blacklisting
Sri Lanka the only South Asian nation to not blacklist corrupt contractors: Verité Research New report highlights gaps in guidelines as well as a lack of compliance Sri Lanka has the worst record among South Asian countries in blacklisting corrupt contractors in public procurement, according to a new report by Verité Research. The report shows that Sri Lanka is the only country in South Asia that 1) does not recognise engaging in corrupt and fraudulent activities during procurement as a valid reason for blacklisting 2) has not blacklisted contractors that have defaulted on contractual obligations despite having the provisions to do so. The first issue can be attributed to gaps in the procurement guidelines of 2006, which govern almost all public procurement in Sri Lanka — except in a few instances such as pharmaceutical procurement. The report emphasises the importance of urgently fixing these gaps to combat corruption and restore fiscal governance. The second issue – not blacklisting defaulting contractors – shows a lack of compliance with existing regulations. Sri Lanka has provisions not only to blacklist defaulting contractors, but also to publish their names in a public, online database. However, this database, maintained by the Department of Public Finance, is empty. By contrast, as of July 2023, Nepal had 629 entries on its online database, and Bangladesh had 510. High levels of corruption in procurement and the importance of fixing it have also been highlighted in the civil society governance diagnostic and the International Monetary Fund (IMF) governance diagnostic on Sri Lanka. In fact, one of the key IMF recommendations is to enact a public procurement law in Sri Lanka that reflects international best practices by December 2024. The report by Verité Research, titled “Backwards in Blacklisting: Gaps in Sri Lanka’s Procurement Framework Enable Corruption”, is available on the Verité Research website – https://www.veriteresearch.org/publication/sri-lanka-procurement-corruption-gaps/
Featured Insight
Sri Lanka: Backwards in Blacklisting
Sri Lanka the only South Asian nation to not blacklist corrupt contractors: Verité Research New report highlights gaps in guidelines as well as a lack of compliance Sri Lanka has the worst record among South Asian countries in blacklisting corrupt contractors in public procurement, according to a new report by Verité Research. The report shows that Sri Lanka is the only country in South Asia that 1) does not recognise engaging in corrupt and fraudulent activities during procurement as a valid reason for blacklisting 2) has not blacklisted contractors that have defaulted on contractual obligations despite having the provisions to do so. The first issue can be attributed to gaps in the procurement guidelines of 2006, which govern almost all public procurement in Sri Lanka — except in a few instances such as pharmaceutical procurement. The report emphasises the importance of urgently fixing these gaps to combat corruption and restore fiscal governance. The second issue – not blacklisting defaulting contractors – shows a lack of compliance with existing regulations. Sri Lanka has provisions not only to blacklist defaulting contractors, but also to publish their names in a public, online database. However, this database, maintained by the Department of Public Finance, is empty. By contrast, as of July 2023, Nepal had 629 entries on its online database, and Bangladesh had 510. High levels of corruption in procurement and the importance of fixing it have also been highlighted in the civil society governance diagnostic and the International Monetary Fund (IMF) governance diagnostic on Sri Lanka. In fact, one of the key IMF recommendations is to enact a public procurement law in Sri Lanka that reflects international best practices by December 2024. The report by Verité Research, titled “Backwards in Blacklisting: Gaps in Sri Lanka’s Procurement Framework Enable Corruption”, is available on the Verité Research website – https://www.veriteresearch.org/publication/sri-lanka-procurement-corruption-gaps/
Featured Insight
Sri Lanka: Backwards in Blacklisting
Sri Lanka the only South Asian nation to not blacklist corrupt contractors: Verité Research New report highlights gaps in guidelines as well as a lack of compliance Sri Lanka has the worst record among South Asian countries in blacklisting corrupt contractors in public procurement, according to a new report by Verité Research. The report shows that Sri Lanka is the only country in South Asia that 1) does not recognise engaging in corrupt and fraudulent activities during procurement as a valid reason for blacklisting 2) has not blacklisted contractors that have defaulted on contractual obligations despite having the provisions to do so. The first issue can be attributed to gaps in the procurement guidelines of 2006, which govern almost all public procurement in Sri Lanka — except in a few instances such as pharmaceutical procurement. The report emphasises the importance of urgently fixing these gaps to combat corruption and restore fiscal governance. The second issue – not blacklisting defaulting contractors – shows a lack of compliance with existing regulations. Sri Lanka has provisions not only to blacklist defaulting contractors, but also to publish their names in a public, online database. However, this database, maintained by the Department of Public Finance, is empty. By contrast, as of July 2023, Nepal had 629 entries on its online database, and Bangladesh had 510. High levels of corruption in procurement and the importance of fixing it have also been highlighted in the civil society governance diagnostic and the International Monetary Fund (IMF) governance diagnostic on Sri Lanka. In fact, one of the key IMF recommendations is to enact a public procurement law in Sri Lanka that reflects international best practices by December 2024. The report by Verité Research, titled “Backwards in Blacklisting: Gaps in Sri Lanka’s Procurement Framework Enable Corruption”, is available on the Verité Research website – https://www.veriteresearch.org/publication/sri-lanka-procurement-corruption-gaps/
Featured Insight
Sri Lanka: Backwards in Blacklisting
Sri Lanka the only South Asian nation to not blacklist corrupt contractors: Verité Research New report highlights gaps in guidelines as well as a lack of compliance Sri Lanka has the worst record among South Asian countries in blacklisting corrupt contractors in public procurement, according to a new report by Verité Research. The report shows that Sri Lanka is the only country in South Asia that 1) does not recognise engaging in corrupt and fraudulent activities during procurement as a valid reason for blacklisting 2) has not blacklisted contractors that have defaulted on contractual obligations despite having the provisions to do so. The first issue can be attributed to gaps in the procurement guidelines of 2006, which govern almost all public procurement in Sri Lanka — except in a few instances such as pharmaceutical procurement. The report emphasises the importance of urgently fixing these gaps to combat corruption and restore fiscal governance. The second issue – not blacklisting defaulting contractors – shows a lack of compliance with existing regulations. Sri Lanka has provisions not only to blacklist defaulting contractors, but also to publish their names in a public, online database. However, this database, maintained by the Department of Public Finance, is empty. By contrast, as of July 2023, Nepal had 629 entries on its online database, and Bangladesh had 510. High levels of corruption in procurement and the importance of fixing it have also been highlighted in the civil society governance diagnostic and the International Monetary Fund (IMF) governance diagnostic on Sri Lanka. In fact, one of the key IMF recommendations is to enact a public procurement law in Sri Lanka that reflects international best practices by December 2024. The report by Verité Research, titled “Backwards in Blacklisting: Gaps in Sri Lanka’s Procurement Framework Enable Corruption”, is available on the Verité Research website – https://www.veriteresearch.org/publication/sri-lanka-procurement-corruption-gaps/
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Economy witnessed gradual revival in 2023 – CBSL
The Central Bank of Sri Lanka reported a gradual economic revival in 2023, following the country's most severe post-Independence downturn. Th...
2024-04-27
Daily News
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[10:28 AM] Jason Hingert සේවක අර්ථසාධක අරමුදල ஊழியர் சேமலாப நிதியம்
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Revenue generated by divesting SOE’s could be ploughed back to infrastructure projects – World Bank
Senior Economist Richard Miller of the World Bank emphasized the necessity for Sri Lanka to persist with its State-Owned Enterprise (SOE) reform program, dismissing the argument against divesting profitable SOEs. He highlighted that privatiz...
2024-04-11
Daily News
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Sri Lanka Shows Signs of Recovery but Must Maintain Reform Momentum
The Asian Development Bank's (ADB) recent Asian Development Outlook (ADO) for April 2024 projects a moderate economic recovery for Sri Lanka, with growth rates estimated at 1.9% for 2024 and 2.5% for 2025 after two consecutive years of c...
2024-04-11
Asian Development Bank
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SCL tax revenue lost to Govt. as importers enjoy huge profits
The Sri Lankan government's tax revenue is experiencing a continual decline due to the inadequacy of adjusting the Special Commodity Levy (SCL) in proportion to the US dollar (USD), leading to excessive profits for traders. This has resu...
2024-04-09
The Morning
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Sri Lanka cabinet approves revised electricity reform bill
Sri Lanka's cabinet approved a revised electricity reform bill that will be presented to parliament by the end of April. This bill, linked to a $100 million loan from the Asian Development Bank, aims to restructure the Ceylon Electricity...
2024-04-09
Economy Next
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