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

By: |
Published: October 9, 2017 7:16:58 PM

The United Petroleum Front (UPF) today 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.

Petrol pumps shut on October 12, petrol pump shut down, Petrol pumps in India, nationwide Petrol pumps strike, trade anomalies, United Petroleum Front, Oil Marketing Companies, OMCs in india, MDG, GST impact on Petrol pumps, B R RavindranathThe 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. (Image: Reuters)

The United Petroleum Front (UPF) today 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.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1I will struggle for you: Nobel Laureate Kailash Satyarthi tells children in Kashmir
2Railway TCs allege they are given unrealistic targets
3Baramulla terror attack: Big success for Army, most wanted Jaish terrorist Umer Khalid gunned down in Ladoora