HAL to lower e-tender limit to Rs 5 lakh

Our Bureau Updated - July 23, 2012 at 10:32 PM.

May e-bid smaller contracts too; stresses ethical supplies from vendors

Hindustan Aeronautics Ltd plans to halve the threshold for e-procurements to Rs 5 lakh from Rs 10 lakh.

Vendors for contracts above Rs 20 crore must also sign an ‘integrity pact’ with HAL. It wants all its suppliers to follow the spirit of such an agreement to uphold openness and ethical practices, HAL said at the first meeting of Global Business Partners on Saturday.

Vendor meet

The Defence public enterprise hosted 57 domestic and 26 foreign vendors, both current and prospective. It apprised them of recent changes in its procurement process.

The meet was held to educate suppliers of procedures, statutory requirements and adherence to the guidelines of the Central Vigilance Commission, it said in a release.

The HAL Chairman, Mr R.K. Tyagi, stressed the importance of the integrity pact and e-procurement practices of the company. He said the vendors had to play a wider role as partners in HAL’s progress. “We need to think beyond our relationship as purchaser and supplier,” he said.

Ethics, transparency

Dr A.K. Mishra, Director (Finance), highlighted HAL’s initiatives to ensure transparency and ethics in business transactions. “Our vendors play a critical role in making the supply chain effective and robust,” he said.

The pre-contract integrity pact was introduced for bidders some time back to encourage fair and corruption-free practices in all high value transactions.

The Web-based e-procurement is also aimed at curbing corruption and inefficiency.

Published on July 23, 2012 17:02