Union Defence Minister Manohar Parrikar has said that to ensure transparency, foreign defence firms will have to upfront mention the reasonable remuneration to be paid to their agents . The companies won't be allowed to dole out any bonus or success fees,he further added. Agents do not mean middlemen,Mr Parrikar told PTI in an interview. <br/><br/>There will be scope for a company to appoint an agent to represent it by paying him or her reasonable fees, the Minister said.He said that the new Defence Procurement Procedure, which is in final stages of completion, will clearly define the role of agents.The Defence Minister said that appointment of agents does not mean that defence firms are allowed to give commissions or something like that.
News On AIR | November 15, 2015 12:57 PM
Govt to allow foreign defence firms to appoint agents: Manohar Parrikar