Finance Ministry asks CPSUs to clear all dues by Oct 15 - Know TOP POINTS of Nirmala Sitharaman's CAPEX review meeting

Union Minister of Finance and Corporate Affairs Nirmala Sitharaman on Saturday held a meeting with Heads of major CPSUs (Central Public Sector Undertakings) to review total Capital Expenditure (CAPEX) by the CPSUs in 2019-20 till now and plan for future CAPEX in current Financial Year.

Addressing a press briefing here after meeting with the representatives of 32 CPSUs, she pointed out that a drive has been started to clear all pending dues. Besides, an online portal will be created to monitor the clearance of due payments, she said.

She said the government was reviewing counter-claims related to arbitration and a meeting will be held between the Ministry of Finance and the Reserve Bank of India on the issue.

In terms of capital expenditure, the government expects that overall CPSUs capex for the rest of fiscal to be over Rs 1 lakh crore.

At the press briefing, Finance Secretary Rajeev Kumar said efforts were being made to ensure that the capex cycle continues by ensuring that there are no delays in payment of dues.

Union Minister for Finance and Corporate Affairs @nsitharaman chairs a meeting on capital expenditure, pending payments, arbitration, etc. of major CPSUs, in New Delhi pic.twitter.com/b34ZT0FMFP

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He disclosed that the CPSUs had a capex of Rs 48,077 crore till August 2019, while the capex till December was expected to be around Rs 50,000 crore and for Q4FY20 around Rs 54,000 crore.