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  Business   In Other News  09 Oct 2017  Petrol pumps nationwide to be shut for 24 hrs from October 12

Petrol pumps nationwide to be shut for 24 hrs from October 12

PTI
Published : Oct 9, 2017, 6:22 pm IST
Updated : Oct 9, 2017, 6:22 pm IST

GST must be implemented on petroleum products so that 'one nation, one rate' can be fulfilled to benefit consumers.

OMCs had agreed to resolve issues pertaining to revision on return of investment, revision of dealer margin every six months.
 OMCs had agreed to resolve issues pertaining to revision on return of investment, revision of dealer margin every six months.

Bengaluru: The United Petroleum Front (UPF) on Monday announced a 24-hour closure of outlets by petroleum dealers nationwide from October 12 midnight to press the government on their demands, including rectification of trade anomalies.

The UPF has said that if the government does not relent, it would go for an indefinite closure of purchase and sale from October 27 till the trade anomalies are resolved. Speaking to reporters, the president of All Karnataka Front of Petroleum Traders B R Ravindranath said Oil Marketing Companies (OMCs) are not keen on resolving the issues and demands which they had earlier agreed on November 4 last year.

 

"OMCs had agreed to resolve issues pertaining to revision on return of investment, revision of dealer margin every six months, revised manpower requirement, fresh study on petroleum product handling losses, product transportation issues and ethanol blending without proper equipment. Sadly none of them have been addressed," said Ravindranath.

The petroleum dealers said that the recent amendment in Marketing Discipline Guidelines (MDG) to penalise dealers up to Rs 2 lakh is arbitrary and unjustified. He was also critical about the zero tolerance policy, saying that manufacturers of the equipment themselves do not guarantee a 'zero tolerance' behaviour of their equipment.

 

Ravindranath demanded that the daily price mechanism and the proposed 'home delivery' be reconsidered as it has not benefited the traders. He said the UPF also demands implementation of the Goods and Services Tax on petroleum products.

"GST must be implemented on petroleum products so that 'one nation, one rate' can be fulfilled to benefit consumers," said Ravindranath.  

Tags: petrol pumps, united petroleum front, petroleum dealers
Location: India, Karnataka, Bengaluru