Home »Money and Banking » Pakistan » WB issues list of ineligible firms
The World Bank (WB) has issued the list of ineligible firms and individuals to be awarded a World Bank-financed contract including 14 from Pakistan under its fraud and corruption policy. According to the WB website, the firms and individuals listed are ineligible to be awarded a World Bank-financed contract for the periods indicated because they have been sanctioned under the Bank's fraud and corruption policy as set forth in the Procurement Guidelines or the Consultant Guidelines.

Such sanction was imposed as the result of (1) an administrative process conducted by the Bank that permitted the accused firms and individuals to respond to the allegations. Through July 2007, this process was conducted in accordance with the Sanctions Committee Procedures adopted on August 2, 2001. Since then, the process has been conducted in accordance with the Sanctions Procedures of the World Bank Group Sanctions Board. (2) Cross-debarment in accordance with the Agreement for Mutual Enforcement of Debarment Decisions dated 9 April 2010, which, as of July 1, 2011, has been made effective by the World Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, and African Development Bank. The Bank may also apply other actions to firms and individuals that do not result in debarment, as maintained on the website.

Copyright Business Recorder, 2019


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