IOC yet to recuperate stock position
Source: The Sangai Express
Imphal, March 08, 2014:
Fuel stocks in IOC's Chingmeirong depot which got depleted because of allotment of fuel to oil pumps in credit, snag in IOC's system, killing of two fuel transporters in Assam and economic blockade for same days cannot be recuperated till date.
According to sources in IOC's Divisional Retail Sales Office, Imphal and Chingmeirong depot, the depot is unable to allot adequate quantities of diesel to oil pumps because of the depleted stock.
Nonetheless, the depot is supplying diesel to oil pumps above the normal supply rate of 220 Kls.
The depot released 420 Kls of diesel on March 6 and another 340 Kls yesterday.
Of the total daily diesel requirement of the State, IOC has been contributing 220 Kls.
IOC contribution rate was calculated around two years back.
Apart from the ever increasing number of vehicles, direct consumers have also been buying diesel from retail outlets, said ROs.
The total number of ROs in the State is 66 and these include newly opened pumps.
When 420 Kls of diesel released by the Chingmeirong depot yesterday was divided among the 66 ROs, they got around just 6.4 Kls.
On the other hand, the Government's GAD, Manipur Police, Army, paramilitary forces and Railway are included among direct consumers.
Diesel sold in ROs is cheaper by Rs 10 approximately per litre as compared to its price given to direct consumers.
This gap in the price of diesel is given as subsidy by the Government.
Because of this price gap, many of the direct consumers have been buying diesel from ROs.
This is one major factor for diesel stocks getting exhausted in oil pumps where there was not adequate supply from the depot.
By purchasing diesel from ROs, the direct consumers have been enjoying the subsidy of Rs 10 per litre.