Centre to announce new Defence procurement policy

Hyderabad, Jul 23 (UNI) Union Defence Minister A K Antony today said the Centre would announce the new 'defence procurement policy - 2008', replacing the 2006 policy in a week or ten days.

Addressing a press conference here, he said, ''the new policy's main objective would be to ensure that the armed forces are able to procure world class equipment from foreign countries by way of direct procurement on speed mode. The basic approach is to revise the policy by taking into account the experiences from 2006 procurement policy.'' Stating that India was not showing any favour or prejudice to any country while importing defence material, he said some corrections and modifications would certainly take place in the old procurement policy.

Asserting that technology has to be upgraded in defence Public Sector Units (PSUs) to compete in the world market, Mr Antony said, ''we will not weaken PSUs at any cost. The PSUs would work along with private companies by arranging joint ventures in future.'' Asked about the pay revision Commission of Defence employees, the Minister said his ministry was trying to find a satisfactory solution to the issues raised by the services. ''We hope a final decision would come out soon.'' UNI AP VA VV SY BD1613