Procurement Committee
The Board Procurement Committee shall:
(i) ensure transparency in the procurement transactions brought before the Committee. The Committee shall also ensure in the procurement transactions, the compliance of the provisions of the Public Procurement Regulatory Authority (PPRA) Rules.
A quarterly report on all procurements shall be submitted to the Committee together with a signed representation by the head of procurement and the MD that all applicable laws, rules and regulations, including the Public Procurement Rules, have been complied with in respect of the procurements.
(ii) address and respond to issues highlighted by Management and Procurement Committee (PC). It shall serve as an advisory forum to PC to suggest measures to streamline and simplify procurement of goods and services.
(iii) review and decide on peculiar cases of procurement, referred by PC for seeking directives of the Committee.
(iv) identify, review and approve new and innovative procurement practices / strategies to strengthen, streamline and speedup the procurement process. It shall further ensure that procurement of goods / services /works achieves value for money in delivering the Corporate strategy and strategic priorities.
(v) review reports on any material breaches from the legal/ regulatory framework of procurement process and recommend appropriate action for approval of the Board.
(vi) review the Company's policies / procedures for procurement of goods/ services/ works and recommend changes for improvement, for Board's approval.
(vii) review and approve all awards of Engineering Procurement and Construction (EPC) Contracts and Original Equipment Manufacturer (OEM) Procurement Contracts of value Rs 500 million and higher. All purchases of materials and services against callout / long-term agreements exceeding Rs 2.0 billion and others Rs 1.0 billion and any other cases so referred by PC.
(viii) also review (a) the annual procurement plan (b) any changes to financial authorities relating to procurement and (c) any Updates/ changes made in the Supply Chain Manual.