​​​
  1. BPCL increases commission offered to dealers upto 50%: Chairman D Rajkumar

BPCL increases commission offered to dealers upto 50%: Chairman D Rajkumar

Public sector oil marketing company BPCL today said it has increased the commission offered to its dealers upto 50 per cent with effect from August 1 and it would have a positive impact on all, including the customers.

By: | Chennai | Published: August 3, 2017 7:55 PM
bpcl increases commission, bpcl chairman md d rajkumar, bpcl finance d rajkumar, pradhan mantri suraksha yojana fuel dealer bpcl, life insurance to boost fuel sale Public sector oil marketing company BPCL today said it has increased the commission offered to its dealers upto 50 per cent with effect from August 1 and it would have a positive impact on all, including the customers. (Source: PTI)

Public sector oil marketing company BPCL today said it has increased the commission offered to its dealers upto 50 per cent with effect from August 1 and it would have a positive impact on all, including the customers. The commission paid to dealers for various products had been revised upwards from a minimum of 20 per cent to a maximum of 50 per cent based on their category from August 1, Bharat Petroleum Corporation Ltd (BPCL) Chairman and Managing Director D Rajkumar said here. The revision would have a ‘marginal impact’ on the financials of the company, he said.

“We have announced an upward revision in dealers’ commission and it will have a positive effect on all the stakeholders including customers,” he told reporters. Following the increase in revision, the outlets were mandated to provide clean toilets and transparency in quality and quantity of fuel supplied to customers, he said. The decision to increase the commission was taken after a meeting with dealer representatives on July 31. “Basically, it is like addressing all the issues of dealers. Depending upon their performance and considering the hardships (it has been revised). Whether it is low selling outlets or high selling outlets, we have adequately compensated”, he said. To a query, he said the revision would cost Rs 50 to Rs 70 crore to the company. “Impact of this revision — the company will absorb initially. Later, we will take a call depending upon the international crude oil prices.”, Rajkumar said. Besides, employees working at fuel outlets would be paid Central Minimum Wages which was higher by approximately 50 per cent compared to state minimum wages.”It will benefit almost 10 lakh families across the country,” he added.

Rajkumar said dealers had been instructed to ensure that employees of fuel outlets were covered under the Centre’s social security schemes — ‘Pradhan Mantri Suraksha Bima Yojana’ (accident death insurance) and ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’ (life insurance). On some outlets forcing customers to buy premium fuels during month end to boost sales, he said suitable action would be taken against erring dealers if complaints were received. To a query on impact of daily price revision, he said from the date it was introduced (June 17), there was a maximum increase in the fuel price by 18 paise while reduction was 27 paise a litre. BPCL, the second largest OMC after IndianOil, accounted for 14,000 outlets of the total 55,000 belonging to the three public sector refiners, including HPCL, he added.

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.

  1. No Comments.

Go to Top