Mr. R.K. Tyagi, Chairman, HAL, lighting the lamp at
Global Vendors' Meet held in Bangalore on July 21
Bangalore, July 23: Hindustan Aeronautics Limited (HAL)
organized a Global Business Partners' Meet of its vendors
here on Saturday to apprise them of recent changes within HAL
to speed up the process of procurement and make suppliers
aware of various procedures, statutory requirements and
adherence to Central Vigilance Commission (CVC)
Eighty three vendors, 26 foreign and 57 from India, attended
the day-long session. In his inaugural address, Mr. R.K.
Tyagi, Chairman of HAL stressed on the importance of
Integrity pact and introduction of e-Procurement initiated by
the Company. He called upon the vendors to play a wider role
as HAL's partner in progress. "We need to think beyond our
relationship as purchaser and supplier", he added.
Integrity Pact is a tool to curtail corruption and promote
fair practices in each and every large value transaction.
Pre-contract Integrity Pact is a binding agreement between
HAL and bidders for a specific contract in which the parties
promise that they will not resort to any corrupt practices in
any stage of the contract. HAL has adopted and implemented
the Integrity Pact with vendors wherever the estimated value
of each contract exceeds Rs. 20 crores.
Similarly, e-Procurement is an automated web-based
procurement process, utilizing the benefits of information
technology across the whole gamut of transaction from indent
creation to payment, reducing the corruption and inefficiency
to a bare minimum. Presently every tender with estimated
value of Rs. 10 lakhs and above has to take the e-route.
Efforts are being made to reduce this threshold to Rupees
Dr A K Mishra, Director (Finance) in his welcome address,
touched upon various steps taken by HAL to ensure
transparency in business transactions. "Our vendors play a
critical role in making the supply chain effective and
robust", he said.