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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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The Employee Provident Fund (EPF) is Sri Lanka's largest superannuation fund. It was established under the Act No. 15 of 1958.
இலங்கையில் உள்நாட்டுக் கடன் மறுசீரமைப்பு விதிவிலக்கானது
உள்நாட்டுக் கடன் மறுசீரமைப்புக்கான (DDR) இலங்கையின் அணுகுமுறை அதன் தனித்தன்மை மற்றும் வழிமுறைகளில் தனித்து நிற்கிறது. குறிப்பிடத்தக்க வகையில், இந்த மூலோபாயம் ஓய்வுக்கால நிதிகள் மற்றும் மத்திய வங்கியின் பங்குகளை மறுசீரமைப்பதில் மையமாக உள்ளது. 1998 இலிருந்து அனைத்து 14 DD...
பி.எஃப். வயரில் இணைப்பிலிருந்து
Source:
Daily Mirror
Economic uncertainty perception dragged EPF into n...
Data from the Central Bank showed that in 2023 the EPF net contribution recorded a negative value of Rs. 5.3 billion, which is a 116 percent contraction from the Rs. 31 .6 billion recorded in 2022....
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Economy Next
Sri Lanka’s EPF net contributions turn negative in...
Net contributions to Sri Lanka's Employees Provident Fund (EPF) turned negative in 2023, with refunds exceeding contributions for the first time. Demographic shifts, increased governme...
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Economy Next
Sri Lanka to pay 13.0-pct return to EPF holders fo...
EPF members will receive a 13% return on their contributions in 2023, exceeding the usual rate. Sri Lanka has achieved stable monetary conditions since September 2022, which bodes well for...
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நுண்ணறிவு ஊழியர் சேமலாப நிதியம்
Forensic audit revealed LKR 10 bn loss t...
The Presidential Commission of Inquiry th...
இலங்கையில் உள்நாட்டுக் கடன் மறுசீரமைப்பு...
உள்நாட்டுக் கடன் மறுசீரமைப்புக்கான (DDR) இலங்கையின் அணுகுமுறை அதன் தனி...
The EPF is the Single Largest Holder of...
On June 28, 2023, the Sri Lankan governme...
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இலங்கை தனது வாரிய மட்ட ஒப்பந்தத்தைப் தனதாக்கிக்கொள...
சர்வதேச நாணய நிதியத்துடன் (IMF) உடன்படிக்கையை எட்டுவதில் ஏற்பட்டுள்ள தாமதம் முதலீட்டாளர்கள் மற்றும் கொள்கை வகுப்பாளர்கள் மத்தியில் கவலையை ஏற்படுத்திய நிலையில், இலங்கையின் கடன் மறுசீரமைப்பு செயல்முறை பலரின் கவனத்தை ஈர்க்கும் ஒரு தலைப்பாக உள்ளது. இந்த விளக்கப்படத்தி...
மேலும் வாசிக்க
இலங்கை ஆகஸ்ட் மாத இறுதியில் சர்வதேச நாணய நிதியத்தி...
உபதலைப்பு: ஆட்சியை மேம்படுத்துவதில் முக்கிய பங்கு வகிக்கும் என எதிர்பார்க்கப்படும் நிதி வெளிப்படைத்தன்மை தளத்தை நிறுவுவதற்கான காலக்கெடு மார்ச் மாதமாக இருந்தாலும், அது இன்னும் நிறுவப்படவில்லை.
மேலும் வாசிக்க
நிறைவேற்றப்பட வேண்டிய மொத்த உறுதிமொழிகளின் எண்ணிக...
சர்வதேச நாணய நிதியத்தால் (IMF) 2023 மார்ச் மாத்தில் ஆரம்பிக்கப்பட்ட தற்போதைய விரிவாக்கப்பட்ட நிதி வசதி (EFF) திட்டத்தின் முதல் கட்டமான ‘முதல் தவணை’யில் இலங்கை...
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