Political finance refers to all sorts of funds that are utilized for various political purposes. Such purposes may cover election campaigns, political contests, policy development by parties, and training activities and so on and so forth. The reporting of political finance involves different sources of income and particular expenditure items, for instance, offices & staff, radio, TV, advertisements via print media, campaign material and opinion polls. The effective reporting of all categories of fund raised & spent is essential for a transparent political system but unfortunately, the current scenario is totally opposite. It is very awful to realize that corruption has plagued our beloved country since its inauguration. The worst part is that with the passage of time it has become a wide spread phenomenon and government of Pakistan failed to cut it down. Corruption is constantly becoming a matter of concern. It not only damages the social contact between government and its people but also a continuous threat to the integrity of the political parties of Pakistan. The core of corruption lies in embezzling the public funds that consequently leads to violation of human rights and puts democracy at risk. Through financial and political corruption, misuse of power and nepotism, the leaders are amassing extensive private fortunes while leaving their constituents in poverty. According to a report issued in 2012 by Transparency International Pakistan, the country has become more corrupt by achieving ranking number 33 from the previous 42. A total corruption of almost Rs. 12,600 billion is estimated in past five years.
Although there are multiple anti-corruption laws yet they have certain gaps and lacking in terms of implementation. The report by TI inscribes certain features of a powerful anti-corruption legislation must have following features:
A. Transparency legislation featuring following points:
Reporting of conflicts of interests;
Disclosure of assets by state officials and politicians (before & after appointment and annually during the appointment as well);
Freedom of information law- this information should be publically accessible.
B. Corruption Legislation featuring following points:
Defining the problem;
Ensuring whistle blowing protection legislation-that is meant to protect federal whistleblowers working for the government and reporting agency misconduct. This law is violated when any agency authority retaliate personal act against any employee due to that disclosure of information.
This simple legislation outline provides the basis for the effective implementation of the relevant laws in the political finance area. The transparency in political finance can be obtained via availability as well as accessibility of the disclosure information. Enhancing transparency in political finance system will be helpful in mitigating and illuminating the influence of illegal and corrupt practices. At the same time, it will benefit those who obey rules. Pakistan stands first in introducing right to information act in South Asian countries, however legislative bodies need to make legislation stronger followed by an effective implementation of these laws. Current legislation pitfalls have frustrated Pakistanis for too long. They are now looking forward for some positive changes in legislature for justice, rights, and security in their country. The political parties in Pakistan can work on existing framework of the political finance. Based upon international best practices, it can be further revised and improved and can help leading useful foundation for an effective legislature in our country.
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