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Lockdown-hit fuel outlets in Telangana seek exemption from interest on loans

Published : Mar 30, 2020, 9:47 am IST
Updated : Mar 30, 2020, 9:51 am IST

Telangana has around 1,700 petrol bunks with Hyderabad accounting for around 600 of them

File Photo
 File Photo

Hyderabad: Petroleum dealers across the state have urged the Centre to grant a one-year exemption from bank interest on loans, as well as exemption of statutory fees.

With the lockdown beginning to make its impact on their operating costs and profit margins, the Consortium of Indian Petroleum Dealers (CIPD) chapter in the state is also planning to formally petition Prime Minister Narendra Modi on the issue.

Telangana has around 1,700 petrol bunks with Hyderabad accounting for around 600 of them.

According to Rajiv Amaram, joint secretary of CIPD, who also runs a petrol pump at Balanagar, they sell about 10,000 litres of petrol a day and around 15,000 litres of diesel.

“Since the lockdown, we are selling just about 10 per cent of the normal petrol sale and between two and three per cent of diesel sales. And it is mostly ambulances that are mostly demanding diesel,” he said,

The group said the lockdown will result in losses because of reduced sales on one side and rentals, salaries to staff and power bills on the other. The losses could vary between Rs two lakh and Rs 10 lakh, depending on the size of the pump and sales, he said.

Tags: covid-19 india, coronanvirus lockdown
Location: India, Telangana, Hyderabad