Defence procurement policy, 2008 to get approval tomorrow

New Delhi, Jul 8 (UNI) The much-awaited Defence Procurement Policy, 2008, which is likely to put defence deals on a 'fast track', will get the approval of Defence top brass tomorrow.

Highly placed sources in Defence Ministry said the new policy will get the approval of the Defence Aqualsition Council tomorrow and likely to be implemented this month only. The latest policy is expected to witness a variety of changes in the Defence Procurement Policy earlier announced in September, 2006.

Incidentally, the new policy will get the green signal of the top brass after the Left parties' pressure on government on various policy matters comes to an end after they decided to withdraw support over the nuclear deal.

The issue of giving private players in the defence sector the status of 'defence ratna' had been hanging fire for the past one year.

The new policy may also agree to the demands of the Indian industry to make foreign players put 30 per cent of the investment in India on deals above Rs 300 crore, sources suggested.

Similarly, the procurement procedure will be made time bound to avoid unnecessary delay in deals.

The Defence Ministry will also place the policy on its website to bring in a sense of transparency.

UNI NAB MIR AS1840