Abstract: According to the research, the obtained data from primary and secondary sources was analysed and was observed that overwhelming evidences indicate the negative political and socio-economic consequences of corruption on society. Accordingly, some socio-economic and political issues like economic growth, investment, privatisation, poverty, government expenditure, resource allocation, political stability, legitimacy of government and political competition were examined and concluded that corruption affects them negatively. However, the researcher found out through investigation that the cost of corruption to a nation is very high. It lowers investment, hinders economic growth and undermines political stability and human development. The research also revealed that the effects of corruption on economic sector are more harmful than other sectors. On the other hand, the negative effects of corruption on citizens’ trust of the government, the legitimacy of the state and other factors mentioned above are noticeable.