NHPC in pact to maintain transparency in contracts

NEW DELHI: In a country where official machinery runs efficiently on greased palms, NHPC has taken a major step to ensure it maintains transparency in its contracts and procurements.

The country���s largest hydropower producer has signed a memorandum of understanding with Transparency International India (TII) to make globally-acceptable Integrity Pact a part of its future contracts with suppliers.

The pact, a commitment for ethical and corruption-free business dealings with bidders, contractors and suppliers, was signed by NHPC chairman and managing director SK Garg and TII chairman Admiral (Retired) RH Tahiliani on Friday.

The Integrity Pact was developed by Berlin-based Transparency International to raise the degree of fairness and transparency in procurement and contracts, resulting in substantial improvement in the setup and reduced corruption in public dealings.

Under the Integrity Pact, corrupt practices lead to global blacklisting of the involved entity, preventing it from accessing procurers and suppliers. This acts as a deterrent and ensures transparency in deals.