Steel Ministry PSUs sign MoU
Steel Ministry PSUs sign MoU The public sector undertakings (PSUs) under the administrative control of the ministry of Steel signed Memoranda of Understanding (MoU) with transparency international india, during a vigilance conclave organised by the ministry of Steel. These PSUs include Steel Authority of India (SAIL), National Mineral Development Corporation, Manganese Ore India, Metal Scrap Trading Corporation, Kudremukh Iron Ore Company, Metallurgical and Engineering Consultants India, Hindustan Steel Works Construction , Ferro Scrap Nigam and Bharat Refractories. The MOUs aims at improving fairness and transparency in procurement and contracts pertaining to these PSUs. This will substantially improve the system and reduce corruption in public dealings and incidentally go a long way in enhancing the image of the organisations, as well as the nation.
Pratyush Sinha, chief vigilance commissioner, chief guest on the occasion, commended the ministry and its PSUs for taking this initiative. He emphasised that, vigilance should not be perceived as having an adversarial relation with management functions and must be seen as a tool to enhance the efficiency and effectiveness of the organization. He requested the PSUs to build institutional frameworks to enhance preventive vigilance.
Secretary, ministry of steel, R.S. Pandey in his address remarked that, by signing the MoUs, the PSUs were extending the frontiers of transparency. He said, “MOUs demonstrates our commitment to improve the ambience of transparency in the business of governance of PSUs”. He, however, cautioned about the imbalances the ‘Integrity Pact’ , to be implemented in the right spirit.
