TIB: Bangladesh Lost $75 Million To Corruption In 2005
Siddique Islam - All Headline News Foreign Correspondent Dhaka, Bangladesh (AHN) - A new report says Bangladesh incurred a financial loss of over $75.68 millionin 423 incidents of corruption in 2005. This was revealed in the "Corruption Database 2005 Report" of the Transparency International Bangladesh (TIB), made public Wednesday through a press conference at the National Press Club in Dhaka. The findings blamed use of "absolute power" as the main cause for the widespread corruption in the country. The report was prepared after analyzing 2,128 news items on corruption published in 26 newspapers during January-December last year. TIB identified the Local Government and Rural Development (LGRD) sector as the most corrupt where misappropriation of $29.92 million accounted for 39.54 percent of the corruption reported in the country's newspapers. It also identified energy, forest and environment, and non-government sectors, as well as financial sectors as the other prominent areas of corruption. The report said the common people of the country (39.9 percent) have suffered the most due to such corruption, while the government suffered 31.8 percent.
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