National Textile Corporation signs integrity pact with Transparency International
Updated: Dec 04, 2015 10:55:18am
New Delhi, Dec 4 (KNN) In a bid to ensure that activities and transactions between the public sector undertaking and its suppliers are handled in a fair, transparent and corruption-free manner, the National Textiles Corporation Limited (NTC Ltd) has signed a MoU with Transparency International India for adopting the Integrity Pact.
“Integrity Pact is a tool which ensures that all activities and transactions between a Company or Government Department and their Suppliers are handled in a fair, transparent and corruption-free manner. It prohibits any kind of bribing, favour or any other unethical practice, which is closely monitored by honorary Independent External Monitors (IEMs),” an official release said.
NTC Ltd is the first textile corporation to sign the Integrity Pact with Transparency International India. It is the 51st PSU and 49th Central PSU to adopt this pact.
The signing ceremony was attended by Central Vigilance Commissioner, K V Chowdary, Secretary, Textiles, Dr. S. K Panda and other senior officials from Ministry of Textiles.
Addressing the gathering, Chowdary said that Independent External Monitors (IEMs) should not be seen as umpires but as guidance providers. IEMs are there to throw light on the issues faced by vendors and advise the management regarding the same. He further added that any vendor who has a genuine grievance can approach the IEM.
The adoption of the Integrity Pact will formalize the various measures being undertaken by NTC to bring in fairness and transparency, he added.
On the other hand, Panda said that vigilance is important for the health of any organization, more so in the public sector, since public money is involved. He said that one should follow rules and guidelines, and that where any deviation is made in organizational interest, the rationale for such deviation should be recorded in writing. He also highlighted the need for building strong systems, especially with the use of technology.
NTC Ltd desires to implement Integrity Pact in over 95 per cent of contracts. The Integrity Pact was prepared as per the guidelines laid down by the Central Vigilance Commission. (KNN Bureau)
“Integrity Pact is a tool which ensures that all activities and transactions between a Company or Government Department and their Suppliers are handled in a fair, transparent and corruption-free manner. It prohibits any kind of bribing, favour or any other unethical practice, which is closely monitored by honorary Independent External Monitors (IEMs),” an official release said.
NTC Ltd is the first textile corporation to sign the Integrity Pact with Transparency International India. It is the 51st PSU and 49th Central PSU to adopt this pact.
The signing ceremony was attended by Central Vigilance Commissioner, K V Chowdary, Secretary, Textiles, Dr. S. K Panda and other senior officials from Ministry of Textiles.
Addressing the gathering, Chowdary said that Independent External Monitors (IEMs) should not be seen as umpires but as guidance providers. IEMs are there to throw light on the issues faced by vendors and advise the management regarding the same. He further added that any vendor who has a genuine grievance can approach the IEM.
The adoption of the Integrity Pact will formalize the various measures being undertaken by NTC to bring in fairness and transparency, he added.
On the other hand, Panda said that vigilance is important for the health of any organization, more so in the public sector, since public money is involved. He said that one should follow rules and guidelines, and that where any deviation is made in organizational interest, the rationale for such deviation should be recorded in writing. He also highlighted the need for building strong systems, especially with the use of technology.
NTC Ltd desires to implement Integrity Pact in over 95 per cent of contracts. The Integrity Pact was prepared as per the guidelines laid down by the Central Vigilance Commission. (KNN Bureau)
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