New defence procurement policy to be approved

July 8th, 2008 - 9:39 pm ICT by IANS  

New Delhi, July 8 (IANS) The Defence Acquisition Committee at its meeting Wednesday is likely to approve the Defence Procurement Procedure 2008 (DPP), which will make procurement a time-bound process, a defence official said. “The new policy is likely to be approved tomorrow and the new policy has been fine-tuned with a great deal of diligence after taking into account the suggestions received from various stakeholders, including the services and the industry,” the official said, speaking on condition of anonymity.

The new policy is likely to have provisions for time-bound acquisitions, banking offset credits and transfer of technology.

“The new DPP will make purchase of equipment for the armed forces more transparent and will rule out allowing middlemen or commission agents in defence deals,” the official said.

Earlier this year, Defence Minister A.K. Antony made the government’s stand on the issue very clear when he said there would be “no question of middlemen in defence deals.”

He ruled out any compromise on transparency. “Of course, we cancelled two-three contracts. Do you want us to compromise on transparency? Even at a later stage when we find something is wrong somewhere, we are not concerned about the status of the company, we will cancel it,” he said.

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