Mass protest against corruption
Thursday, 23 April 2015
We watched on television that millions of Brazilians took to streets throughout the country to protest against government corruption. In this context, we recall that our policy-makers and politicians often claim that corruption has been contained to a great extent in our country as we are no longer at the top of the list of most corrupt nations.
Recently several top executives of a bank have been sentenced by a court as they plundered bank money by giving loans to fake business people. It may be mentioned that dozens of public limited companies (PLCs) raised share capital through sale of shares and debentures indicating good return on investments.
But for years they do not pay dividend or interest to the debenture/share holders. Bangladesh Securities and Exchange Commission (BSEC) allowed PLCs to raise capital after thorough analysis, vetting, sensitivity analysis etc.
It is normal for the government agencies to wind up such defaulting companies by appointing custodians and sell the assets proportionately among investors while fake entrepreneurs or company top officials are to be prosecuted and penalised. But noting happened in such cases.
Similarly, hundreds of co-operatives are seen to perform unethically and millions of Bangladeshis lose their investments but nothing happens to the culprits. Corruption exists in almost all employments, transfers, postings, promotions etc. but noting happens to the offenders.
Universities are shut down because of corrupt practices in matters of employment, promotion, tender, preparation of question papers, evaluation of answer sheets, etc., but the situation does not change a bit.
It is time for us to declare a crusade against corruption. While we talk about elimination of corruption from all spheres of life on occasions like Bangla New Year's Day, someone like Anna Hazare of India should emerge or Brazil-like mass protest against corruption should take place throughout the country to stem the rot.
Mahmud Ali
New Eskaton Road
Dhaka