Corruption at Chittagong port hurting shippers, Bangladesh citizens
Inefficiency at the Chittagong port in Bangladesh is costing the country's taxpayers $1.1 billion every year, or 2 percent of GDP, the Dhaka, Bangladesh-based Financial Express reported over the weekend.
Attributing the acute congestion problem in the port to rampant corruption among state officials, the newspaper said Chittagong has become one of the least efficient and most expensive ports in Asia.
According to the report, a recent study by Transparency International Bangladesh estimated the cost of corruption at the port at $113.3 million annually. Limited storage capacity for containers, lack of deepwater facilities and inefficient operations meant that there is no guarantee about the timely release of consignments out of the ports.