The Integrity Pact (IP) shall form part of all tender documents issued by NTPC Limited valuing over Rs. 10 crore.
02nd Sep, 2009
The Integrity Pact (IP) shall form part of all tender documents issued by NTPC Limited valuing over Rs. 10 crore. Further to oversee implementation and effectiveness of the Integrity Pact for tenders valuing Rs. 100 crore and above the company has appointed Independent External Monitors (IEMs) Shri T.S.Krishna Murthy, Former Chief Election Commissioner and Shri S. Murali, Retd. Financial Commissioner, Railway Board.
NTPC had entered into a Memorandum of Understanding (MOU) with Transparency International India (TII) in December 2008 in its endeavour to ensure increased transparency, equity and competitiveness in its process of procurement.
Integrity Pact envisages an agreement between the prospective vendors/ bidders and buyers committing the persons /officials of both the parties not to exercise any corrupt influence on any aspect of the contract. It is a tool devised by Transparency International to fight corruption in public procurement and thus assist in improving the credibility of procurement process. The integrity pact not only ensures efficiency but also helps in building public trust.
Winner of Golden Peacock Award for Excellence in Corporate Governance and also SCOPE Meritorious Award for Good Corporate Governance, for NTPC Business ethics is among set of its Core Values. NTPC values its relationship with domestic and international contractors. The implementation of IP by NTPC shall be another initiative by the company in furtherance of goals for Corporate Governance.
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