Public steel firms clear Rs 692 cr payments of MSMEs in May

New Delhi, June 20 (KNN) Public steel companies have paid Rs 692.36 crore to Micro, Small and Medium Enterprises (MSMEs) in May, 2023.

This is 35.6 per cent higher than the payment made in the same month last year.

During April-May 2023, steel Central Public Sector Enterprises (CPSEs) have made payment of Rs 1,321.32 crore to MSMEs, which is 23.8 per cent higher than Rs 1,067.53 crore made during the corresponding period of FY23.

The status of pending payments to MSMEs by CPSEs of the steel ministry is being monitored on a weekly basis.

It is being observed to ensure that dues are cleared within the 45-day deadline.  (KNN Bureau)