Search the Internet          Tips  Sites: Finance, Investment

BPCL to cancel petrol, LPG licence in next few days

The government has asked the oil companies to terminate licences for nearly 3700 petrol pumps, LPG and kerosene agencies issued since January, 2000, and put them up for open bidding following Prime Minister Atal Bihari Vajpayee's decision in the wake of the controversy over the dealerships.

"Clear instructions in this regard were received from the government by Friday night following which steps will be taken in the next few days for terminating these licences, taking over the outlets already commissioned and calling fresh bids to re-allot the same", Bharat Petroleum Corporation Ltd CMD S Behuria told reporters in Chennai on Saturday.

He said the company would see that the consumers were not put to any sort of inconvenience in the process despite the fact that it had to physically take over some of the petrol pumps, LPG distributorships and kerosene dealerships already commissioned.

Behuria said of the nearly 3700 allotments made, only about 525 had been commissioned so far and the company would be working out a plan for the continuous functioning of these outlets keeping in mind what is best for the consumer.

Once the terminations and takeovers were over, fresh bids would be called as per government guidelines at the earliest to re-allot the terminated licences, he said.

ALSO READ:
The Petrol Pump Row
More Money Headlines