LoC system being abolished in MP

Bhopal, Feb 26 (UNI) The Madhya Pradesh government has proposed to abolish the Letter of Credit (LoC) system in all departments from April this year.

Announcing this during presentation of the 2007-08 Budget in the Assembly today, Finance Minister Raghavji said that the change was being effected on the basis of suggestions received during ministerial consultation with administrative officials in order to tone up administration.

''Now the delay being faced by works departments in getting budgetary allocation through the government treasury will be done away with,'' Mr Raghavji said adding that electronic tendering in works departments had been started.

In order to bring about qualitative improvement in administration, it was proposed to establish a school of good governance and policy analysis at Bhopal. Permanent lok adalats would be set up in 43 districts for speedy disposal of cases, Mr Raghavji said.

UNI