Government-owned steel companies clear Rs 7,673.95 crore dues of various MSMEs in FY23
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The steel ministry has said that government-owned steel companies have cleared Rs 7,673.95 crore dues of various Micro, Small & Medium Enterprises (MSMEs) during the financial year 2022-23 (FY23), which is 39.3 per cent higher than Rs 5,511.07 crore payment made during the preceding fiscal.
The ministry said the status of pending payments to MSMEs by Central Public Sector Enterprises (CPSEs) of the ministry is being monitored on a weekly basis to ensure payments to them within the 45 days' time limit for such payments.
It also said a payment of Rs 876.10 crore was made by steel CPSEs to MSMEs during March 2023, up 38.1 per cent year-on-year (y-o-y) and 23.1 per cent higher than the previous month.
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