Monday, February 2, 2009
PSUs may have to exercise stronger vigilance
New Delhi: Public Sector Undertakings (PSUs) may be asked to follow stronger vigilance procedures after Satyam’s accounting fraud came to the fore. The central vigilance commission has suggested a technical audit of all purchases and procurements made by all PSUs and Government departments every year under the aegis of the CVC. In fact, the commission is on course to ask the department of public enterprises (DPE) to include integrity as an essential component for calculating the performance score of various PSUs at the end of every fiscal.
“We are working on these proposals and will soon write to the department of public enterprises. We have already held meeting with chairmen and managing directors of various government owned entities,” central vigilance commissioner Pratyush Sinha told The Indian Express.
Technical audit will assess whether an equitable, transparent and fair procurement policy was followed by PSUs while awarding contracts and tenders. “So far what we have is a vigilance audit dealing with how a complaint is handled and what punitive actions are taken. Technical audit will be aimed at making the processes more preventive than curative,” he said.
Courtesy : Indian express
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