TODAY -

RO dealers appeal for moratorium, security
Source: The Sangai Express

Imphal, February 12 2024: Many retail outlet (petrol pump) dealers of the State have appealed to the Chief Minister to make special security arrangements at the petrol pumps to face/restrain/stop exorbitant financial demands made by various organisations.

Highlighting various problems faced by the petrol pumps, the RO dealers submitted a memorandum to the Chief Minister today.

Saying that petrol pumps have been facing drastic decline in their sale due to the present crisis and hence their profit margin has declined by almost 40-50 per cent, the RO dealers informed the Chief Minister that they have been facing huge problems in repaying bank loans and interest.

Through the memorandum, the RO dealers appealed to the Chief Minister to work out some sort of moratorium for cash credit loans, EMI and interest with banks.

The unreasonable sales targets set by the oil companies have made the running of petrol pumps difficult in the present situation, the RO dealers said.

"We are facing an exorbitant number of demands/donations from various organisations which are difficult to fulfil with our present financial situation.

Our staff have been getting threats, forced extortion and some of them have been kidnapped for ransom.

Some of our retail outlets have been asked to close down if we are unable to pay/meet their demands", according to the memorandum.

The RO dealers added that they may be compelled to shut down their retail outlets if the financial demands/donations by various organisations are beyond their capacity to pay/fulfil.


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