PSUs ready to help improve GDP

Heads of infrastructure sector PSUs met the finance minister P Chidambaram on Wednesday and committed to step up investments, while suggesting to the government that it address the issues related to project clearances and availability of coal.

Talking to reporters after the meeting, NTPC chairperson and managing director  Arup Roy Choudhury said the company plans to invest Rs 20,000 crore in the current fiscal and was confident of the capex plan. ‘Discussion [was} on speedy achievement on capex and [we] are confident of achieving capex commitment,’ he added.

Roy Choudhury said, ‘We also discussed problems related to coal in the presence of coal Secretary.’ He also expressed the hope that there could be some direction from the finance minister after this meeting on the fuel linkage.

According to BHEL chairman and managing director B Prasada Rao, ‘Order book at the end of Q1 is at Rs 1.35 lakh crore. Our basic trouble is the various problems plaguing the power sector. Our investments are connected to the power sector. Clearances and also coal linkages continues to be a problem.’

The meeting was called by Chidambaram to nudge bluechip PSUs – sitting on cash pile of about Rs 1.8 lakh crore – to expedite investment plans. It was attended by secretaries of different ministries dealing with the infrastructure sector.