P.J.
0
Cartels in procurement loot railways of Rs 10,000 crore a year: E Sreedharan
NEW DELHI: The cash-strapped railways will end up saving Rs 10,000 crore annually if the railway board stops all centralized procurement, says a report by 'Metro man' E Sreedharan.
In his final report on 'delegating tendering and commercial powers to general managers and other operating levels' of railways, Sreedharan has pointed out that by centralizing procurement powers, the railway board has accumulated enormous sum of money in the hands of few, and hugely enhanced rent-seeking power that encourages corruption.
The committee heard views of senior officials. "Procurement is through cartel only, list of approved sources and cartels are synonymous ... there is no item in which there is no cartel .. Committee feels that vendors thus continue to fleece at will," Sreedharan says.
Please read more from here
Cartels in procurement loot railways of Rs 10,000 crore a year: E Sreedharan - The Economic Times
NEW DELHI: The cash-strapped railways will end up saving Rs 10,000 crore annually if the railway board stops all centralized procurement, says a report by 'Metro man' E Sreedharan.
In his final report on 'delegating tendering and commercial powers to general managers and other operating levels' of railways, Sreedharan has pointed out that by centralizing procurement powers, the railway board has accumulated enormous sum of money in the hands of few, and hugely enhanced rent-seeking power that encourages corruption.
The committee heard views of senior officials. "Procurement is through cartel only, list of approved sources and cartels are synonymous ... there is no item in which there is no cartel .. Committee feels that vendors thus continue to fleece at will," Sreedharan says.
Please read more from here
Cartels in procurement loot railways of Rs 10,000 crore a year: E Sreedharan - The Economic Times
