National Textile Corporation (NTC) Limited on 3 December 2015 signed a Memorandum of Understanding (MoU) with Transparency International India (TII) for adopting Integrity Pact (IP).
With this signing, NTC became the 51st Public Sector Undertaking (PSU) and 49th Central PSU to sign a MoU with TII.
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 also prohibits any kind of bribing, favour or any other unethical practice, which is closely monitored by honorary Independent External Monitors (IEMs). The IEMs
National Textile Corporation (NTC) Limited
NTC is a Schedule-A Public Sector Undertaking engaged and entrusted with Management and operation of Sick Textile Undertakings taken over and nationalized through various Acts. From a sick corporation NTC Ltd has moved to a turnover of 12 billion rupees in the year 2013-14 and operation loss to Zero.
Transparency International India (TII)
Transparency International India (TII) is an accredited chapter of Transparency International, Berlin. TII has been working in the field of public procurement since 2005 with an aim to bring about transparency in the tendering process. Integrity Pact, a Transparency International conceptualized instrument, has been vital in promoting clean procurement.
ONGC in 2006 became the first PSU to sign MoU with TII and implement Integrity Pact in its procurement process. Orissa Power Generation Corporation Limited is the only state PSU and New Delhi Municipal Corporation (NDMC) is the only municipality to sign a MoU with TII for implementation of Integrity Pact.
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When: 3 December 2015