Under development: Corruption fatal to the Pakistani economy, says EU envoy

EU envoy says unchecked corruption is bigger threat than terrorism to Pakistan's deteriorating economy.

ISLAMABAD: Unchecked corruption is a bigger threat than terrorism to the deteriorating economy of Pakistan as it has been impeding all economic development, said the European Union (EU) Ambassador Jan De Kok.

“Corruption is a greater impediment to investment than deteriorating security and law and order,” De Kok said while speaking at a roundtable session on Tuesday.

He said that foreign investors signed documents for investment in Pakistan but later, they had to forego their plans due to hurdles including corruption in the system. “The EU can help Pakistan enhance its economic and political relations with its neighbouring countries,” he said. Defending the EU-India Free Trade Agreement (FTA), he said: “Yes, we are negotiating an FTA with India. It is a different country as per its economic size and population and has a longer history of democratic process.”

Published in The Express Tribune, January 26^th, 2011.