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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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VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expected from increasing the VAT r...
பி.எஃப். வயரில் இணைப்பிலிருந்து
Source:
Daily Mirror
Excise Duty on Liquor, Wine, Beer and Fags up by 2...
மேலும் வாசிக்க
Source:
EconomyNext
Sri Lanka imports up 23-pct in January as tourism...
Sri Lanka’s imports grew 23.1 percent from a year ago to 1,959 billion rupees in January 2022 data showed, with a higher volume of exports and tourism revenues giving more income for people to spend. Exports grew 17.5 percent to 1,101...
மேலும் வாசிக்க
Source:
Daily News
Worker remittance bleeding continues despite incen...
The worker remittance income plummeted in January, continuing the months-long bleeding in the largest foreign income earner to the country, reflecting that the incentives offered by the authorities haven’t been effective in wooing migr...
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நுண்ணறிவு வருமானம்
Primary and Budget Balances move in oppo...
The Fiscal Management Report 2024 publish...
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to r...
VAT to reach 20 year high from January
The Cabinet recently sanctioned an increa...
Tax revenue misses IMF target in 1st qua...
According to the 2022 Annual Report from...
ருத்தப்பட்ட 2022 வரி வருவாய் இலக்கில் இல...
2022 இல் இலங்கை தனது வரி வருமான இலக்கை ரூ...
What Caused the Rise in Tax Revenue from...
In the Central Bank's Annual Report f...
Sri Lanka's Unique Revenue Problem
Tax to GDP and GDP per capita for most So...
சீனி வரியைக் குறைத்ததால் அரசாங்கத்துக்கு...
The Special Commodity Levy (SCL) on impor...
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2022ல் அரசுக்குச் சொந்தமான நிறுவனங்களின் நட்டங்கள்...
2022ம் ஆண்டின் முதல் நான்கு மாதங்களில் அரசுக்குச் சொந்தமான நிறுவனங்களின் மொத்த நட்டமானது ரூ.860 பில்லியன் ஆகும். இது அரசுக்குச் சொந்தமான நிறுவனங்களின் 2021ம் ஆண்டுக்கான வருடாந்...
மேலும் வாசிக்க
Where's the promised land?
இலங்கையில் அந்நிய நேரடி முதலீட்டை (FDI) தடுக்கும் ஒரு முக்கியமான தடையாக காணி அணுகல் அடையாளம் காணப்பட்டுள்ளது. முதலீட்டு வலயங்கள், முதன்மை ஏற்றுமதி செயலாக்க வலயங்கள் (EPZ) அந்நிய நேரடி முதலீட்டை ஈர்ப்பதில் கணிசமாக செல்வாக...
மேலும் வாசிக்க
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expected from increasing the VAT r...
மேலும் வாசிக்க