Boost investment, FinMin tells PSUs

Tribune News Service

New Delhi, September 6

Top Finance Ministry officials today met senior officers of major PSUs and financial advisers (FAs) of infrastructure ministries in a bid to boost capital expenditure and inject liquidity into the system.

Finance Secretary Atanu Chakraborty and Expenditure Secretary GC Murmu asked them to accelerate investment activities, immediately release payments for procurements and resolve disputed outstanding payments.

The meeting was attended by top officials from PowerGrid, NTPC, NHAI, ONGC, SAIL, Indian Oil and Railways. Financial Advisers of Ministries of Railways, Health & Family Welfare, Petroleum & Natural Gas, Road Transport & Highways, Shipping, Power, Civil Aviation, Housing & Urban Affairs, Water Resources, Rural Development and HRD also attended the meeting.

Chakraborty and Murmu impressed upon the officials to adhere to the expenditure plan and accelerate investment activities with regard to capital expenditure. They were also asked to monitor the release of payments for procurements and other contracts without delay to infuse liquidity in a time-bound manner as well as resolve outstanding payments which may have been held up on account of disputes.

The ministry would constantly monitor the progress of large infrastructure projects for the ministries as well as the CPSEs and further follow-up meetings would be held.