Centre writes to over 2,800 corporates to clear MSME dues

The MSME Ministry has now written to top management of over 2800 corporates by name to make payment of pending dues of MSMEs, against their dues of goods and services rendered, in this month itself.

Last month the ministry had written to top 500 corporates of India about the pending payments of MSMEs. It said that a very good response has been seen from the corporate India.

Out of the last five months, the maximum payments to MSMEs have happened in September. Not only that, during this month, even procurement and transaction appears to be maximum, the MSME Ministry said.

It said that more than Rs 13,400 crore have been paid by Central Public Sector Enterprises (CPSEs) alone in the last five months. Out of this, payments worth Rs 3,700 crore have happened in September only, it added

In its latest communication to larger corporate community, MSME Ministry while underscoring the importance of making such payments now, says that it will facilitate the small enterprises to avail the business opportunity in the upcoming festive season.

“If the cash flows of MSMEs improve, they can make use of the festival season when there is opportunity to earn by supplying goods and services.
In fact, some of the MSMEs look for such a period for their sustenance of whole year. Thus, timely payment of their receivables at this time will not only support the MSMEs and their dependents in this festive season but will also sustain many of them for full year,” the ministry said.