From Our Special Correspondent

LONDON, May 22: A global partnership scheme to tackle corruption in the construction industry aimed at saving billions of dollars of taxpayers’ dollars per year and millions from shoddy and unsafe infrastructure was launched on Thursday.

The possibility of extending the scheme to Pakistan is not being ruled out as the United Kingdom which has made commitments of about $1 billion of assistance to Islamabad over the next three years is contributing over $8 million for launching a pilot project under the scheme in Tanzania.

The UK is also working alongside the governments of Tanzania, Zambia, Vietnam and the Philippines.

The scheme designated as the Construction Sector Transparency (CoST) Initiative is a two year pilot scheme in partnership with governments, private sector and civil society.

CoST aims to make sure that government-funded construction projects are delivered on time, at high quality and at a reasonable price.

Parliamentary Under-Secretary for International Development Gillian Merron said:“Construction is a $1.7 trillion global industry annually, with billions per year lost due to corruption. By participating in this initiative, governments are sending a clear message to the construction industry that they are committed to strengthening transparency and accountability and stamping out corruption within the industry. This will lead to better quality infrastructure, which in turn will help economic growth and reduce poverty.”

The design for the CoST initiative followed a consultation process with developing countries, civil society and industry. The Department for International Development (DFID) along with the World Bank and the CoST Secretariat led by PricewaterhouseCoopers LLP, will support pilot countries implementing the scheme.

Each pilot country will determine precisely how to implement the pilot, based on the CoST criteria, in a way which adds value to existing systems and processes. This includes determination of value or types of projects to be covered, the scale and level of detail of information disclosures, the best and most efficient way of making the material information available in the public domain.