Minister of heavy Industries and Public Enterprises Praful Patel informed Lok Sabha that Central Public Sector Enterprises (CPSEs) have Rs 284,153.22 crore
cash and bank balances at present.
Further, it is learnt that 17 state-run firms, including, ONGC, OIL and NTPC, committed to invest over Rs 1.63 lakh crore during 2012-13.
The minister added that capital investment by CPSEs depends upon, their corporate plan, various administrative clearances, market conditions and the best judgement of the management of the CPSE.
In 2012-13, it is learnt that ONGC projected to invest Rs 40,975 crore NTPC and OIL planned to invest Rs 20,995 crore and Rs 10,378 crore, respectively.
Capital with the PSUs in terms of reserves and surplus during 2010-11 was Rs 665,487.72 crore. In an interview to a leading media agency, Finance Minister P Chidambaram had said the central PSUs have been put on notice either to invest their surplus cash or lose it.
The performance of CMDs of PSUs will be measured, among other things, on how much their company has invested in terms of the declared intention.
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