NTC signs Integrity Pact with Transparency International

04 Dec '15

3 min read

Central public sector undertaking National Textile Corporation (NTC) Limited has signed a memorandum of understanding (MoU) with Transparency International India (TII) for adopting Integrity Pact. NTC has become the first textile corporation in India to sign such a pact, an official press release said.

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).

Speaking on the occasion, central vigilance commissioner KV Chowdary said that 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. Observing that the signing of the MoU was a momentous step for NTC, Chowdary said that the adoption of the Integrity Pact will formalise the various measures being undertaken by NTC to bring in fairness and transparency.

Textiles secretary SK Panda said that vigilance is important for the health of any organisation, 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 organisational interest, the rationale for such deviation should be recorded in writing. He also highlighted the need for building strong systems, especially by the use of technology.

PC Vaish, chairman and managing director of NTC, said that NTC Ltd has been a transparent and fair organisation and signing the Integrity Pact will give rejuvenated strength to the organisation.

NTC 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.

With the approval of Central Vigilance Commission, Kalyan Chand, ex-director general, Taxes and Ashok Kumar Tripathi, ex-member, Company Board have been appointed IEMs to oversee the implementation of Integrity Pact at NTC Ltd.

NTC is engaged and entrusted with management and operation of sick textile undertakings taken over and nationalized through various Acts.

TII is an accredited chapter of Transparency International, Berlin, and has been working in the field of public procurement since 2005 with an aim to bring about transparency in the tendering process. (RKS)

Fibre2Fashion News Desk – India

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