Govt. contemplating fresh plans, laws to solve MSME receivables issue: Nitin Gadkari

Union minister Nitin Gadkari has said that the Micro, Small and Medium Enterprises Ministry is contemplating fresh plans and laws to find a solution of the receivables issue as outstanding dues are creating working capital problem for the sector.

He was speaking at the AGM of Bharat Chamber of Commerce. Here he acknowledged that the receivables issue continues to be a major problem."The ministry is looking at new plans and laws to find a solution. It is creating working capital problem for the sector," he said.

Chamber President Ramesh Kr Saraogi suggested that an external agency be appointed to monitor the outstanding dues with the government and public sector companies that are supposed to clear the dues in 45 days of supplies.

As part of the Aatmanirbhar Bharat package announced in May, MSME dues from central government agencies and CPSEs should have been paid in 45 days.