FM to assess performance, capex of 24 PSUs today

Oct 18 2013, 03:48 IST
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SummaryFinance minister P Chidambaram will meet chiefs of two dozen cash-rich PSUs on Friday

Finance minister P Chidambaram will meet chiefs of two dozen cash-rich PSUs on Friday to take stock of their companies’ performance vis-a-vis the capital expenditure targets set earlier in the year. In the meeting, he is expected to advise firms like GAIL, ONGC and Indian Oil to expedite investments.

Sources in North Block say firms will be told to ‘use it or lose it’, i.e., they either use cash reserves on projects within a year or use them to pay back their shareholders, including the government, as dividends.

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