Public Sector Undertaking (PSU) Ircon International Limited (IRCON) signed a Memorandum of Understanding (MoU) with Transparency International India (TII) on 22 April 2014. It signed the MoU for implementing Integrity Pact.
The MoU is aimed at maintaining complete transparency, integrity and accountability in all its major contracts and procurement.
The Integrity Pact is a tool conceived by the Berlin-based Transparency International to fight corruption in public procurement. It is a voluntary agreement between a buyer and the prospective vendors or bidders, which abstains exercise of corrupt on any aspect of the contract. The pact will ensure efficiency, helps in building public trust and enhances the credibility of the organisation.
Till date, 47 PSUs have signed the Integrity pact.
• Ircon International Limited (IRCON) under the Ministry of Railways was set up in 1976. IRCON’s original name was Indian Railway Construction Company Limited.
• It has widespread operations in several States in India and in other countries like Malaysia, Nepal, Bangladesh, Mozambique, Ethiopia, Afghanistan, U.K. Algeria and Sri Lanka.
• IRCON is a specialized Constructions organization covering the entire spectrum of construction activities and services in the infrastructure sector.
About Transparency International India
• Transparency International is an international civil society organisation based at Berlin that has turned the fight against corruption into a worldwide movement. Transparency International India (TII) is an Indian branch of Transparency International.
• Transparency International India (TII) is part of the Asia Pacific forum comprising 20 nations that include China, Sri Lanka, Bangladesh, Pakistan, Maldives and others.
When: 22 April 2014