 Bismillahi r-Rahman r-Rahim and Aslanikam Pakistan, welcome back to corporate governance. We have had a very long journey in the past few weeks and we have been talking about media, its role, how it tends to have its various implications on the different media platforms and also the different stakeholders. Now we are moving ahead with corruption and again those main organizations which are involved in accountability and anti-corruption. Ladies and gentlemen, there are many organizations involved with anti-corruption around the world and if we talk about Pakistan, we have the National Accountability Bureau, we have the Federal Investigation Agency, we have the State Bank of Pakistan, we have FBR, we also have the Anti-Corruption Establishments and in the Parliament we have the Public Accounts Committee and within institutions we have inter-organizational committees. Now internationally again there are many organizations which are working especially the IFIs, the International Financial Institutions such as Asian Development Bank, such as JICA, the Japan International Cooperation Agency such as DFID, UK such as GIZ, Germany and again OECD which is the Organization for Economic Cooperation and Development. But one of the most famous ones and one of the most powerful ones and the one which basically is also managing the United Nations Anti-Corruption Secretariat is Transparency International. Now transparency international ladies and gentlemen came into being in 1994 in Germany and basically we see from there on it started spreading across the world and one of the very defining elements of transparency international is the corruption index which basically based upon a particular framework and syntax tends to perceive the level of corruption in each country and therefore every year they come out with their corruption index which tends to have a huge impact on national and global politics. Now again when we are talking about transparency international ladies and gentlemen then transparency international defines corruption as the abuse of entrusted power for private gain. Corruption erodes trust, weakens democracy, hampers economic development, exacerbates inequality and poverty and increases environmental crisis. So what we see is that the advent of corruption or the spread of corruption has multi-faceted and multi-layered implications and therefore it can weaken any country and with that it can also create a lot of problems on different levels of that particular country. Now corruption can take any form there are so many different forms of corruption usually we are only talking about bribery or extortion or financial corruption but there are so many other forms of corruption even damaging the client is corruption even wastage is corruption even dereliction of duty is corruption nepotism, favoritism, bias, discrimination is corruption sharing inappropriate gifts is also corruption and we can keep on going on and on and there are different types forms and transactions which are all linked towards corruption. Corruption is not confined to any country region or area it is actually everywhere there is no country which can claim to be corruption free. So even as per the corruption index if we talk about this current even countries in Singapore and New Zealand which are usually amongst the top five in the world they are also not corruption free. Corruption can involve anyone it can be at the lowest year and can be at the highest level corruption happens usually in the background and corruption tends to adapt because as you develop anti-corruption strategies and tend to control corruption then the corrupt keep on adapting and they come out with new innovative ways of being corrupt which is extremely sad. Another important thing is ladies and gentlemen is that costs of corruption there are political costs freedom and rule of law is compromised and rule of law is something which is very important there are social costs people's participation and trust on the government is reduced there are also environmental costs people's chances for healthy life and sustainable future are declined and there are economic costs people's opportunity to build and grow wealth is taken away. So we have many factors which are the costs of corruption and therefore what we see is that corruption can create chaos and havoc within a society and can darken the future of the younger generation and therefore it is very important that we tend to engage against corruption and also ensure that the level of corruption for the passive time tends to decrease rather than increase. Usually to curb corruption it is always said that it is good to have transparency and when we are talking about transparency it means shedding light on formal and informal rules, plans, processes and actions. Transparency helps the public hold all power to account for the common good seeking and receiving information is a human right that can act as a safeguard against corruption. So one we talk about voice, second we talk about the freedom of information and that tends to then curb corruption and also ensure a better value of integrity and honesty. Transparency is ensuring it can be easily accessed and understood by and used by citizens and therefore that information should be freely available and transparency is the only first step and all stakeholder environment should be over here. So what we see ladies and gentlemen is that corruption has many different forms. We see many national and international organizations working and combating corruption. We see that corruption is like a cancer which eats into the very fabric of a nation and can debilitate any nation due to the level of corruption and then we see that amongst the different organizations which are working against corruption. Transparency is national tends to stand out internationally and also on a national level because it has the corruption index besides fighting and combating corruption at all levels and then what we have seen is that transparency, voice and freedom of information can lead to better accountability and lesser corrupt practices. So that is what is the responsibility of everyone that we tend to shed away from negativity and from corrupt practices and try to move towards integrity and honesty and truth and try to become role models within our own society. Thank you so much.