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November 6, 2016

OECD’s convention to improve transparency

Business

 
November 6, 2016

ISLAMABAD: The membership of Organisation for Economic Cooperation and Development (OECD) multilateral convention on mutual administrative assistance in tax matters will bring further transparency and openness in governance, said Ishaq Dar, minster for finance.

Dar, chairing a meeting to review the steps being taken by the government to ensure good governance improve transparency and to curb the menace of corruption, said Pakistan has recently become the signatory.

“Inter-ministerial consultation should be undertaken to determine Pakistan’s readiness for accession to other international conventions and protocols, which create transparency and openness in governance,” he said.

The finance minister said the OECD convention on combating bribery of foreign public officials in international business transactions and the open government partnership – an initiative of the UK government – should both be reviewed and recommendations should be made on Pakistan’s preparedness for joining these multilateral forums.

He said accession to the multilateral agreements will augment Pakistan’s efforts to combat fiscal crime and further strengthen its compliance framework on anti-corruption.

The minister said all necessary steps for joining both forums should expeditiously be undertaken.

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