New Delhi, Apr 23 (KNN) Ircon International, under the Railways Ministry has committed before the Transparency International India (TII) for implementing Integrity Pact under which the company that does large scale procurement from the private sector, including the SMEs, will maintain transparency and integrity in major contracts and procurements.
The Memorandum of Understanding (MoU) signed between Ircon and Transparency International is “aimed at maintaining complete transparency, integrity and accountability in all its major contracts and procurement.”
The MoU was signed by CMD, IRCON, Mohan Tiwari and Chairman, TII, S K Agarwal in the presence of senior officers of IRCON and TII.
Speaking on the occasion, Agarwal said that the Integrity Pact will not only ensure efficiency, but also help in building public trust and enhance the credibility of the organisation.
So far, 47 PSUs have signed the Pact.
Integrity Pact is a tool conceived by the Berlin-based Transparency International to fight corruption in public procurement through a voluntary agreement between a buyer and the prospective vendors/bidders, refraining both sides to exercise any corrupt influence on any aspect of the contract.
Offering his comments, Tiwari said that the company has been voluntarily adopting all the corporate governance measures in its endeavour for transparency in public procurement, and implementing Integrity Pact is another step in this direction.
According to the Procurement Order of March 2012, all central government ministries, departments and public sector undertakings shall procure minimum of 20 per cent of their annual value of goods or services from micro and small enterprises.
The Public Procurement Policy shall apply to Micro and Small Enterprises registered with District Industries Centers or Khadi and Village Industries Commission or Khadi and Village Industries Board or Coir Board or National Small Industries Corporation or Directorate of Handicrafts and Handloom or any other body specified by Ministry of Micro, Small and Medium Enterprises.
The policy rests upon core principles of competitiveness, adhering to sound procurement practices and execution of orders for supply of goods or services in accordance with a system which is fair, equitable, transparent, competitive and cost effective.