KalNews - Vol. 02, Issue. 6

IT- As An Authenticated Tool For Transparency Of Fund Management.

According to the Oxford Dictionary “Transparency” is an English language word derived from “Transparent” which means a thing or process that is Crystaly clear, Obvious, Evident , Free from any faults, Un-ambiguous; if we take this in financial terms it can be used in a sense that a thing Free from Corruption and any Fake, Forged and Fraudulent intentions. As a matter of fact IT transparency can be achieved only through the application of Microsoft Softwares and the desired IT Technologies because they provide an access to all and sundry in whole management of funds and their utility can be seen in Tsunami, Katrina and Rita hurricanes where such Softwares worked wonders. And lack of such facilities can make mess of all this like in Indian Gujrat Earth Quake of 2004 where corruption became rampant and left the province in pretty pickle.

So IT can be used as the best devise to curb corruption and siphon off funds on the part of contractors who gear up to take their slice in task of 3Rs (Rehabilitation, Reconstruction and Relief ) of the biggest ever public project since the birth of Pakistan. IT can serve as chief watch dog and present us system of check and balance and transparency of whole exercise. On the contrary lack of the latest IT Technologies can emerge as main root cause of delays in converting financial commitments into effective actions and money transfers.

If we analyze the situation closely it will be as clear as day that due to the 8th October earth quake, huge amount of donations rushed to Pakistan. According to one estimate the amount of $5.6 bln has reached to Pakistan. Now the transparent and impartial utilization of resources or funds is the need of the hour. The siphon off funds should be cured with utmost care. In such crisis situation here comes rescue in shape of induction of the latest IT trends and Microsoft softwares. The induction of the latest Technology and IT trends can not only forecast the disasters but can also effectively and efficiently manage the aftermath of the same and eradicate a lot of wheeling and dealing on the part of management.

Hence comprehensive and embezzlement free preparedness should be comprised of combination of the latest IT technology together with amalgamation of people with correct IT skills. In case of failure it will throw the people from frying-pan into fire.