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According to a report in Dhaka's Financial Express, the inefficiency of the Chittagong port in Bangladesh is costing the country's taxpayers$1.1 billion every year, or 2 per cent of GDP.

Attributing the acute congestion problem in the port to rampant corruption among the officials, the newspaper points out that Chittagong has become one of the least efficient and most expensive ports in Asia.

A recent study by Transparency International Bangladesh estimated the cost of corruption at the port at $113.34 million annually. Limited storage capacity for containers, lack of deep-water facilities and inefficient operations meant that there was no guarantee about the timely evacuation of consignments out of the ports. Stamping out of corruption and improvement in efficiency within the port could hope to boost the country's exports by an estimated 30 per cent or so.

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