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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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வரவு-செலவுத்திட்ட பற்றாக்குறைக்கு நிதியளித்தல் தொடர்பான பகுப்பாய்வுகளும் விரிவான பார்வைகளும்..
WHT and PAYE had the largest growth in Q3 2023
The Fiscal Management Report 2024, recently released by the Ministry of Finance, offers a comprehensive analysis of the government's revenue streams. A notable highlight from the report is the remarkable growth in revenue from two key co...
பி.எஃப். வயரில் இணைப்பிலிருந்து
Source:
Daily News
ADB Sri Lanka Country Partnership Strategy 2024-20...
The Asian Development Bank (ADB) has launched its Sri Lanka Country Partnership Strategy (CPS) 2024-2028, aimed at elevating Sri Lanka's competitiveness. The strategy, led by Takafumi Kadono, the ADB Country Director for Sri Lanka, empha...
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Source:
Ceylon Today
CBSL to issue record high Rs 120B worth of Treasur...
Central Bank of Sri Lanka (CBSL) will be issuing its largest ever Treasury (T) Bill stock to the market, by an auction in T-Bills’ 100-year-old history, a sum of Rs 120 billion, on Wednesday (25), an upload on CBSL’s website last Friday (20) showed.
மேலும் வாசிக்க
Source:
Ceylon Today
IMF agreement signals sharp change in policy setti...
The IMF staff-level agreement with Sri Lanka on a USD 2.9 billion programme, confirmed on 1 September, appears to signal a sharp change in policy settings in order to achieve macroeconomic stability, including through large fiscal adjustment...
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நுண்ணறிவு நிதியளிப்பு
2020 மற்றும் 2021ம் ஆண்டுகளில் கோவிட் -1...
பெப்ரவரி 2020 ம...
Fiscal Performance From January to April...
Latest figures...
இலங்கை மற்றும் பங்களாதேஷுக்கு இடையில் பே...
சமீபத்தில், பங்...
Sri Lanka’s Bilateral Swap Agreements
A foreign currency swap is an agreement t...
2020 Records the Highest Budget Deficit...
The budget balance for 2020 is -LKR 2,090 billion (-14.0% of GDP) while the budget balanc...
2020ல் இலங்கை யாரிடமிருந்து கடன் வாங்கிய...
2020ல் இலங்கை...
සහන විදේශ ණය - ඇත්තටම අපිට සහනයක් ද?
ශී්ර ලංකාවේ ව්යාපෘති බොහෝමයක්, ප්රධාන වශයෙන...
Government Budget Balances, 2000 to 2021
The bar chart illustrates the primary balance and overall balance as...
Financing Infrastructure: The (non) conc...
Recently Verite Research held a seminar on the potential (non) concess...
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National Budget Process in 60 Seconds!
The video below describes the National Budget process from planning to oversight. There are 4 steps to the whole process and is carried out between January and December.
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The Rise Of The Zombie Firms: The Problem With Rec...
This article was compiled by Professor Udara Peiris. Udara Peiris joined Oberlin in the fall of 2022. He was previously a tenured Associate Professor of Finance at HSE University (at the department ICEF) in Russia and has taught at the University of Warwick, and the Univers...
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Government revenue set to rise by LKR 922 billion...
VAT revenue is projected to rise by LKR 305 billion in 2025, driving one-third of the total increase in government revenue. It is the single largest revenue source, contributing 32 percent of the government’s total revenue. Of this, LK...
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