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SearchMTNL agrees to be transparent in its financial deals
State-run telecom utility Mahanagar Telephone Nigam Ltd (MTNL) Wednesday signed an integrity pact for all its financial transactions by concluding an accord with Transparency International India (TII).
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State-run telecom utility Mahanagar Telephone Nigam Ltd (MTNL) Wednesday signed an integrity pact for all its financial transactions by concluding an accord with Transparency International India (TII).
The pact seeks to bring in more transparency and clarity in all contracts and financial deals that MTNL would undertake. The company is listed in six Indian stock exchanges and also in New York Stock Exchange since 2001.
'About half a dozen public sector undertakings (PSUs) have signed this pact. We are first among the telecom companies,' R.S.P. Sinha, chairman and managing director of MTNL, said at a conference.
'This will help us carrying out tender process in a more transparent manner. This will not let any vendor or supplier get any special favour and strengthen in our procedural system,' Sinha added.
The pact would be finalised in consultation with independent monitors, who will monitor the processes, and shall be intimated to major suppliers and vendors of MTNL.
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