Finance Minister Nirmala Sitharaman meeting heads of major PSUs to review CAPEX plan - TOP POINTS

Union Minister of Finance and Corporate Affairs Nirmala Sitharaman is holding 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.

After concluding the meeting, Sithraman addressed the press conference on what all points were taken up during the meeting.

Briefing the media, Sitharaman said that she has asked CPSUs to clear all overdues latest by 15 October, 2019.

"Payments which are pending for services rendered, goods supplied or any other work done for government agencies and the Public Sector Units to be cleared by October 15," Sitharaman said.

Sitharaman informed that a drive will be conducted between now and first week of October so that all requirements are met and payments are done before October 15.

Morever, Sitharaman said that Finance Ministry hs asked CPSUs to review post arbitration counter claims.

Union Finance & Corporate Affairs Minister Smt.@nsitharaman holding a meeting with Heads of major CPSUs to review total Capital Expenditure ( CAPEX) by the CPSUs in 2019-20 till now and plan for future CAPEX in current FY.@nsitharamanoffc pic.twitter.com/f0d8kcsVCf

— Ministry of Finance (@FinMinIndia) September 28, 2019

Apart from Finance Minister, meeting was attended by Finance Secretary, Secretary DEA, Secretary Expenditure, CGA, Secretary MSME, and Heads of Oil India, NHAI, HAL, NHPC, CIL, Indian Oil , 
ONGC, Power Grid, NTPC, GAIL, HPCL, Hindustan Petroleum and CEO GeM.

Apart from Finance Minister, meeting is attended by Finance Secretary , Secretary DEA , Secretary Exp, CGA , Secretary MSME , and Heads of Oil India , NHAI , HAL, NHPC, CIL, Ind Oil ,
ONGC , Power Grid , NTPC , GAIL, HPCL, Hindustan Petroleum and CEO GeM.

— Ministry of Finance (@FinMinIndia) September 28, 2019

Nirmala Sitharaman said the government's capital expenditure plans are on track as per the budget targets.

Earlier, on Friday,  Finance Minister Nirmala Sitharaman while addressing the media after meeting with financial representatives of several key ministries, said that no overdue payments have been held back by any government departments.

Sitharaman also said that government departments must pay any dues owed to micro, small and medium enterprises (MSME).

The Finance Ministry has asked all ministries to submit their capex plans for the next four quarters.