Published Date: Jul 19, 2011
CORRUPTION HAMPERS ECONOMIC GROWTH: SDPI SEMINAR
Corruption in its various forms is believed to be one of the major impediments to sustainable development and economic growth, said Dr Waqar Wadho, an economist, while delivering a special lecture entitled “Corruption and Development: Perspective from Economic Theory” organised by Sustainable Development Policy Institute (SDPI) on Monday. Dr Waqar defined corruption as misuse of public offices for private gains. He said low wages in the public sector were considered to be one of the major determinants of bureaucratic corruption. He said higher wages of civil servants and strict audit and monitoring reduce corruption. Dr Waqar highlighted the contesting views of corruption and its repercussions and cost-effectiveness of incentive-based anti-corruption strategy. He said the government must take steps to ensure corruption-free institutions.