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Home News Power Sector News NTPC signs MoU with Transparency International India for Integrity Pact

NTPC signs MoU with Transparency International India for Integrity Pact

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NTPC LtdNTPC Ltd, the largest power utility of the country, signed an MoU with Transparency International India (TII) . The MoU was signed by Shri R.S.Sharma, Chairman and Managing Director, NTPC and Admiral (Retd) R.H. Tahiliani, Chairman of TII in the presence of Shri Jairam Ramesh, Minister of State for Commerce and Power, Shri Pratyush Sinha, Central Vigilance Commissioner and Dr. S.N.Dash, Secretary (Heavy Industry). Senior officials of Ministry of Power, Central Vigilance Commission (CVC),NTPC and TII were present on the occasion as Bharat Heavy Electricals Ltd, BHEL also signed a similar MoU with TII.

Transparency International India is a non profit organization that endeavors to work towards reduction in corruption by promoting and supporting transparent and ethical practices in government by raising awareness among people, planning policies to support Government for better delivery of public services, working towards reducing public corruption, combating political corruption and partnering with civil society groups working towards similar goal.

The Integrity Pact is a tool developed by Berlin-based Transparency International for enhancing the degree of fairness and transparency in procurement and contracts, resulting in substantial improvement in systems and reduction in corruption in public dealings. This model, being followed by several corporates worldwide, binds a company and its suppliers to ethical conduct in contracts and implementation of projects.

Shri Jairam Ramesh said that contracts tenders and procurement as a major source of corruption and political lobbying. BHEL and NTPC have become the first power sector PSUs to sign such a pact indicating their resolution to deal with the peril of corruption. The minister complemented the efforts of both TII and CVC and called for the private sector companies engaged in public-private participation projects with PSU funding to enter into the integrity pact.

Ravi Kumar said BHEL was committed to fostering the most ethical and corruption-free business environment and valued its relationships with bidders, contractors and vendors. Significantly, the Central Vigilance Commission has recommended the adoption of this Pact by Secretaries to the Government of India and CMDs of PSUs in respect of all major procurement.

Business Ethics is the first among the set of its core values for NTPC, which also form part of employee evaluation and factored into while considering employee growth. NTPC has been conducting value audits and surveys for actualization of the core values. Company's corporate structure and business disclosure practices are aligned to best corporate governance practices.

Tahiliani cited examples from India and abroad as to how the parties to the Integrity Pact could benefit in financial terms in the long run. He further said that the implementation of the Integrity Pact is observed by Independent External Monitors or IEMs of perfect integrity, appointed from a panel approved by the Central Vigilance Commission.

Courtsey - RTTNews


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