Steel mills pledges to fight corruption

Transparency International Pakistan and PSM have signed an agreement to increase transparency in PSM operations.


Express August 24, 2010

KARACHI: Transparency International (TI) Pakistan and Pakistan Steel Mills (PSM) have signed an agreement to increase transparency in PSM operations.

Acting Chief Executive Officer of Pakistan Steel Imtiaz Ahmed Khan Lodhi and Chairman Transparency International Pakistan Syed Adil Gilani signed the agreement on Monday as a follow-up to the Memorandum of Understanding (MoU) signed on June 16, 2004.

Lodhi said that the presence of Transparency International in all major procurements and sales dealings of Pakistan Steel will enhance the credibility of the mill.

He also said that the PSM desires to have no tolerance of corruption and become a profitable corporation.

Tenders and sales criteria will be made publicly available to ensure transparency, he assured.

Complaints received from the aggrieved party will be addressed on merit within 72 hours, he said, with a maximum time of 15 days for complaints related to procurement.

TI Pakistan will inform the PSM CEO if it observes any anomalies in the procurement process and the CEO will then be expected to take action accordingly.

Published in The Express Tribune, August 24th, 2010.

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