Integrity pact for increased transparency in procurements

New Delhi, Mar 28 (UNI) South Eastern Coalfields Limited (SECL), a subsidiary of Coal India Limited, entered into a Memorandum of Understanding (MoU) with Transparency International India for bringing in transparency in procurement.

The agreement to this effect was signed here last evening. The SECL CMD pact was signed by B K Sinha and Adml (Retd) R H Tahiliani at a brief ceremony.

With the signing of this pact, SECL became the 23rd Public Sector Undertaking in the country to adopt the pact, committing to have most ethical and corruption-free business dealings with the counterparts- bidders, contractors or suppliers.

Integrity Pact is a tool developed by Berlin-based Transparency Int'l for enhancing the degree of fairness and transparency in procurement and contracts, resulting in substantial improvement in the systems and reduction in corruption in public dealings.

Its implementation is observed by the Independent External Monitors (IEMs) of impeccable integrity, appointed by the Central Vigilance Commission (CVC), Mr Sinha said, SECL has already been working in transparent way in its all activities. Signing of this pact will further strengthen the transparent system of decision making".

UNI BKS SR AS1507