The Integrity Pact IP is a specific tool used to build transparency in public procurement Which of t...........

Governance Issues Accountability and Transperancy

The Integrity Pact (IP) is a specific tool used to build transparency in public procurement. Which of the following statements is correct in this context?

It has been designed and launched by United Nations to prevent corrupt influences

The major purpose is to enable governments to reduce the high cost and the distortionary impact of corruption on public procurement, privatisation or licensing.

Major government agencies and public sector institutions in India are actively including this in their tendering processes

By signing such pact both public institutions and private agencies open up their operations for public scrutiny.

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Explanation:

The Integrity Pact (IP) is a specific tool used to build transparency in public procurement. It has been designed and launched by United Nations to prevent corrupt influences.
As "a tool for preventing corruption in public contracting", an integrity pact is a multi-party agreement entered into by a public body seeking to procure goods and services of significant value, the companies interested in bidding to supply the goods and services, and a third party organisation such as a civil society organisation who will have a role in monitoring compliance with the pact.