Port Blair, Jan 12: Public Procurement is now recognized as a strategic tool for achieving developmental, social and environmental objectives of governments, rather than using it as a tool for mere compliance with rules and regulation. Since public funds are being spent on public procurement for which specific rules and procedures have been framed therefore, the executives, officers and staff engaged in public procurement have thorough knowledge of all the relevant rules, regulations and procedures of public procurement. Good Financial Management is essential for an organization to succeed. It helps in making effective use of resources, fulfil commitments to stakeholders, gain competitive advantage and prepare for long-term financial stability to accomplish the objectives of the organization.

In an effort to upgrade the skills of various officials from Central & State Government Departments, Academic Institutions, PSUs, etc., National Productivity Council (NPC) a national level organization under Ministry of Commerce & Industry, Government of India organizing various Residential Training Program in different locations throughout the country. Economic Services Group of NPC will be conducting one such Residential Training Program on “Public Procurement Management & Financial Management” Jan. 15-19, 2024 at Port Blair, A & N. The Training programme has been designed to inculcate the importance of Public Procurement & Financial Management by updating skills, knowledge on best practices needed to effectively manage procurements and contracts in the public sector environment within the organization and shall emphasize on various aspects of managing financial resources more productively in improving managerial effectiveness and performance.

There will be around 23 participants from different PSUs, Academic institutes, Corporations and various other Centre and State Departments.

Shri Rajesh Sund, Director (Economic Services), NPC, who is coordinator of the program and also faculty for Financial Management has specified that this Training Program has been conceptualized with the objective to understand the kind of system and practices existing in Public Procurement Management and to evolve better methods, General Financial Rules in Public Procurement and to understand the importance of early resolution of disputes related to supply chain and the mechanisms to deal. Participants will also be enable the use of qualitative and quantitative tools and measures to distinguish the key financial risks, Valuation techniques and tools for learning & developing unique strategies, implement correctly and set financial targets. This Training Program will be a perfect balance of theoretical learning and hands-on practice and enables participants to develop the expertise to maintain profitability and performance.