PSUs take measure for more transparency in contracts, procurements

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New Delhi, Sept 24 (UNI) The public sector undertakings (PSUs) under the administrative control of the Steel Ministry today signed memoranda of understandings (MoUs) with Transparency International India here today during a Vigilance Conclave.

The MoUs aim at improving fairness and transparency in procurement and contracts pertaining to these PSUs.

This will substantially improve the systems and reduce corruption in public dealings and go a long way in enhancing the image of the organisations as well as the nation.

The PSUs include the Steel Authority of India Ltd (SAIL), National Mineral Development Corporation, Manganese Ore India Ltd, Metal Scrap Trading Corporation, Kudremukh Iron Ore Company Ltd, Metallurgical and Engineering Consultants India Ltd, Hindustan Steel Works Construction Ltd, Ferro Scrap Nigam Ltd andBharat Refractories Ltd.

Chief Vigilance Commissioner Pratyush Sinha, the chief guest on the occasion, commended the Ministry and its PSUs for taking this initiative.

He emphasised that vigilance should not be perceived as having an adversarial relation with management functions and must be seen as a tool to enhance the efficiency and effectiveness of the organisation.

He requested the PSUs to build institutional frameworks to enhance preventive vigilance.

Steel Ministry Secretary R S Pandey said by signing the MoUs, the PSUs were extending the frontiers of transparency.

He said the MoUs demonstrate commitment to improve the ambience of transparency in the business of governance .

However, he cautioned about the imbalances the 'Integrity Pact' might cause if not implemented in the right spirit.


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