Finance Minister Nirmala Sitharaman on Saturday said that a portal will be set up by the government for suppliers and contractors to track their due payments.
Finance Minister Nirmala Sitharaman on Saturday said that a portal will be set up by the government for suppliers and contractors to track their due payments. Speaking at a press conference after meeting the heads of major CPSUs, Nirmala Sitharaman said that all pending dues will be cleared by October 15. A review was also done on the counter claims related to arbitration along with timeline, Nirmala Sitharaman also said. The review exercise was conducted to bring in more transparency through e-billing, she added. The state-owned firms have also been asked to submit spending plans for the next four quarters, she added.
34 central PSUs have already spent Rs 48,077 crore till Aug and Rs 50,159 crore will be spent by December 2019 and another Rs 54,700 crore in the fourth quarter, he added.Finance Secretary Rajeev Kumar said at the press conference. Another Rs 54,700 crore would be spent in the January-March quarter. Expenditure Secretary Girish Chandra Murmu said capex of all the 242-odd PSUs will be over Rs 4 lakh crore.
Earlier in the day, finance minister met 32 CPSU heads to review their total capital expenditure in 2019-20 so far and plan for future capex in current fiscal. Apart from Finance Minister, the meeting was attended by the Finance Secretary , Secretary DEA , Secretary Exp, 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.
Meanwhile, on Friday, Nirmala Sitharaman held a meeting with secretaries and financial advisors of a few ministriesin Delhi and said that the ministries have cleared most of the dues of goods and services to suppliers, mostly MSMEs. The finance minister also said that the remaining payments will be done in the next few days.