Wednesday, May 21, 2014

Singapore Corruption Index

Singapore ranks well in the corruption index currently. Will we be able to maintain our good ranking in the future will depend on the governing party willingness to fix the existing systemic weakness.

We know that it only takes a straw to break a camel's back.  All it takes is a single weak link to undo a strong chain and...sigh ...there are so many weak links in the current system.  For example :

1) Having related parties (family ties and/or politically link) holding key positions in both our sovereign wealth funds and MAS

2) Non-transparency in areas our government deems 'sensitive', which sensitivity we as citizens questioned (eg financial standing of GIC and our country reserve)

3) Limitless number of terms our PM can govern

4) Political leaders governing the country need not declare their financial assets before taking office and during their terms

5) PM holding real power is not elected by the citizens, while the President who is elected has limitation in his role to provide 'check and balance'

6) Extraordinary high salary of governing politicians tied to GDP as one of the factors for their extraordinary bonus

7) MPs inspite of drawing high salary, work only part time and running around holding directorships in so many private companies.  Is there not conflict of interest when making policies ?

8) The existence of GRCs and senseless redrawing of electoral bountaries during every election

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