Karachi: Strengthening our regulatory institutions is a must to end corruption and improve good governance in our society, said Pasban Democratic Party (PDP) Chairman Altaf Shakoor here Sunday.
Shakoor emphasized that bolstering regulatory bodies is essential in the fight against corruption as it enables them to better detect, prevent, and penalize corrupt activities. According to him, stronger regulatory frameworks equipped with advanced technology and skilled personnel can effectively monitor both government and private sector operations.
He highlighted that empowered regulator are capable of imposing severe penalties, such as fines, bans, and prosecutions, which serve to deter potential wrongdoers. Shakoor noted that transparent procedures and automation through e-governance can significantly reduce human interference and the exploitation of loopholes.
The PDP Chairman also underscored the importance of creating safe channels for whistleblowers, which he said would build public trust and encourage the exposure of corruption. He advocated for mandatory disclosures, such as asset declarations and open contracting, to make transactions easily traceable.
Shakoor called for the depoliticization of probe bodies and the establishment of independent anti-corruption agencies that can conduct impartial investigations. He suggested looking at successful international models like Singapore’s Corrupt Practices Investigation Bureau and Estonia’s Digital Governance for inspiration.
He urged for political interference in regulatory bodies to be eradicated and stressed the need for adequate funding and training to enhance their effectiveness. By making these bodies independent, well-resourced, and transparent, Shakoor believes that the government can significantly curb corruption and promote fair governance.
The PDP Chairman called for legal and institutional reforms to enhance the independence of regulatory bodies and urged the passage of laws to shield regulators from political influence. He also recommended adopting modern technologies like AI and blockchain for audits and emphasized training staff in forensic accounting and international anti-money laundering standards.
Shakoor appealed to both ruling and opposition political parties to support these initiatives to ensure better governance for society.