Hindustan Aeronautics Limited (HAL) organised a global business partners’ meet of its vendors recently to apprise them of recent changes in the company to speed up the process of procurement and make suppliers aware of various procedures, statutory requirements and adherence to Central Vigilance Commission (CVC) guidelines.
Eighty three vendors, including 26 foreign and 57 from India, attended the day-long session. Chairman of HAL R K Tyagi stressed on the importance of integrity pact and the introduction of e-procurement initiated by the company and called for a wider participation from its vendors.
Pre-contract Integrity Pact is a binding agreement between HAL and bidders for a contract in which the parties promise that they will not resort to any corrupt practices in any stage of the contract.
HAL has adopted and implemented the Integrity Pact with vendors wherever the estimated value of each contract exceeds `20 crore.
The company also said that e-procurement was another tool in its efforts to curb corruption. “At present, every tender with estimated value of `10 lakh and above has to take the e-route.
Efforts are being made to reduce this threshold to `5 lakh,” he added.
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