Govt asks PSUs to clear overdue payments of vendors by Oct 15

New Delhi, Sep 30 (KNN) The government has set October 15 as the deadline for central public sector units to clear overdue payments to vendors and exhorted them to front-load capital expenditure.

Finance Minister Nirmala Sitharaman, who reviewed capital spending programs with heads of 32 Maharatna and Navratna Central Public Sector Enterprises (CPSEs), said the state-owned companies have been asked to front-load investment for the second half of the current fiscal.

She said “It was decided that all pending dues to be cleared by October 15 and by October 15, they will have a portal through which all dealers and contractors shall start monitoring their payment.”

The Minister also sought to know reasons for CPSEs making purchases worth crores when these were available on government’s E-Market Portal.

Expenditure Secretary, Girish Chandra Murmu said for the current financial year, capital expenditure of all the 244-odd PSUs will be around Rs 4 lakh crore and that it could rise depending on the requirement.

As for pending payments, he said, around Rs 55,000 crore of the Rs 60,000 crore on date were cleared.

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