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Political parties should put the issue of ridding the country of the scourge of corruption on the top of their respective manifestoes in the next general election, businesses and analysts said Tuesday.
The country can no longer waste its time in challenging the Transparency International (TI), rather it must ensure a national pledge to fight the menace that has had a bearing on the economy and investment climate, they said while giving their reactions to the latest report of the Transparency International (TI).
In its report on CPI released worldwide Tuesday, the TI ranked Bangladesh the most corrupt nation in the world. This is for the fifth time in a row Bangladesh has been rated as the most corrupt nation.
Calling the TI's ranking "disgraceful" for the country, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Mir Nasir Hossain said that the government, the opposition and the business circles must work in tandem to help wipe out the country's sullied image.
"It's disgraceful for the whole nation. It's painful, too," the FBCCI chief said, in his instant reaction to the TI report.
He suggested that there should be a national debate on the issue how the country could shed its identity as the most corrupt nation.
If the government activates the Anti-corruption Commission (ACC) and appoints the Tax Ombudsman, the situation may improve in the foreseeable future, Nasir opined.
Echoing the views of his business colleague, President of American Chamber of Commerce (AmCham) Aftabul Islam dubbed the TI's index a "national shame".
"It's a reality. We should not challenge the CPI of the Transparency International," he said, stressing the need for political commitment to wage a war against corruption.
He suggested that the issue of graduation from the TI's corruption index should top the agenda of political parties in the next general election.
"We can no longer indulge in debates. Rather, political parties should place the issue of graduation from the TI's index on the top in their respective election manifestoes," the AmCham President suggested.
Explaining the negative impact of the ranking by the corruption watchdog, Aftab said it has undermined the country's credibility in the international arena.
"It affects our foreign trade. Foreign buyers do not trust our ISO certification. They cannot rely on any documentation, even if it is authenticated by our missions abroad," he lamented.
Research Director of the Centre for Policy Dialogue (CPD) Dr Mustafizur Rahman said graft in the country was "detrimental to the economy and our future".
Dr Rahman, a foreign trade analyst, is of the view that corruption does dampen Bangladesh's investment climate, thus discouraging both local and foreign investors to invest in a big way.
"It's not the issue of ranking. Rather the debate should centre around to what extent graft creates a negative impact on the economy," Dr Rahman said, dispelling the popular notion that only the ranking in the CPI by the Berlin-based corruption watchdog should be taken seriously.
The CPD executive saw the issue of corruption from the points of view of investors, producers and consumers.
Graft has a bearing on the inflow of both local and foreign direct investment, he said.
But AmCham chief differed with the views of Dr Rahman, saying foreign investors would come considering market potential, profitability and availability of resources.
"They (foreign investors) bother little about the issue of corruption," Aftab said.
"It is corruption that pushes the cost of doing business up while consumers are to spend extra money as producers charge higher rates on their products," he told the FE, also noting that the scourge must be eliminated.
Stressing the need for strengthening the Anti-Corruption Commission (ACC), Dr Rahman suggested that legal and regulatory regime should be improved to fight graft.
In addition, he said, the civil society must launch a social movement against corruption.
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