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India: Govt Decides to Make Fast Payments to Private Firms Working on Infrastructure Projects
Source: egov.eletsonline.com
Source Date: Monday, June 11, 2012
Focus: Citizen Engagement, Internet Governance
Country: India
Created: Jun 19, 2012

With ambitious goals set for the current year, the Government now intends to speed up the payment process for private parties who are carrying out infrastructure projects.

A meeting involving various Government departments and private companies is expected to take place within the next few days to finalise a faster payment mechanism.

It is estimated that outstanding dues of private companies involved in infrastructure projects ranges from a low of Rs 12,000 crore to as high as Rs 20,000 crore. These are the undisputed amounts, which have been arrived at after discussions with key private infrastructure players.

Under the new mechanism, the effort would be to bring various Government departments and the companies together on the same table. Then it will be ensured that payment is made in the shortest possible time.
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