Verité report exposes Sri Lanka’s procurement corruption risks

Date:

February 19, Colombo (LNW): A staggering revelation comes to light exposing Sri Lanka’s critical vulnerabilities towards combatting corruption in procurement, according to a Verité Research report.

The report, “Backwards in Blacklisting: Gaps in Sri Lanka’s Procurement Framework Enable Corruption“, points out that Sri Lanka’s procurement guidelines, established in 2006, lack essential provisions, notably the absence of recognising corrupt activities during procurement as grounds for blacklisting contractors.

This omission exposes the system to potential corruption risks.

Furthermore, the report reveals a lack of compliance with existing regulations, such as the failure to blacklist contractors who default on contracts, as mandated.

Unlike neighbouring countries like Nepal and Bangladesh, Sri Lanka’s Department of Public Finance has not populated its online database with the names of such defaulters.

These findings underscore the pervasive corruption within Sri Lanka’s public procurement system, corroborated by assessments from civil society governance diagnostics and the International Monetary Fund (IMF).

The IMF has stressed the urgency of enacting a public procurement law by December 2024 to align with global best practices, emphasising the need for comprehensive reform in this critical area.

Share post:

spot_imgspot_img

Popular

More like this
Related

Govt Reconsiders Minimum Wage Policy for Migrant Workers Amid Rising Concerns Over Exploitation

The Sri Lankan government is reassessing the possibility of reintroducing...

Sri Lanka Charts Reform Path at High-Level IMF Conference

The Central Bank of Sri Lanka (CBSL), in collaboration...

Sri Lanka Pushes for Regional Aviation Alliances and Airport Expansion

Sri Lanka is ramping up its efforts to transform...

Sri Lankan Listed Companies Record 57% Profit Surge in March Quarter

Sri Lanka’s listed companies reported a robust 57.4% year-on-year...