ibusinesslines.com
ibusinesslines.com October 23, 2017


NEIPDA supports strike by petroleum dealers on October 13

12 October 2017, 11:44 | Jodi Jackson

Petro delears face ECA if supply disrupted OMCs

Petroleum dealers

The strike was called protesting against discrepancies in supply and demand to include petroleum products under the Goods and Services Tax (GST).

He said though NEIPDA is not affiliated to any of the three bodies, but it has extended support to the shutdown-call as the charter of demands put forward by the UPF were applicable to NEIPDA.

"The state government can invoke Essential Services Maintenance Act (ESMA), they can take over pumps and give to oil companies for operating, and we can takeover petrol pumps".

According to a UPF spokesperson, the dealers' association has withdrawn its call for a 24-hour strike of fuel pumps on Friday.

The United Petroleum Front, an umbrella organisation for the Federation of All-India Petroleum Traders, the All-India Petroleum Dealers Association and the Consortium of Indian Petroleum Dealers, had also threatened indefinite stoppage of purchase and sale operations from October 27.


While calling off the strike Ajay Bansal, President of All India Petroleum Dealers Association said, "The director marketing of the three oil companies had appealed to us not to go on strike and so we are withdrawing the strike on their appeal".

Earlier, the petrol and diesel dealers' strike against daily revision of petrol and diesel prices scheduled on June 16 was deferred.

Indian Oil, Hindustan Petroleum and Bharat Petroleum control about 54,000 petrol pumps across the country, or more than 90% of the fuel retailing market. S Ramesh, director marketing at BPCL, said OMCs fail to understand why dealers are not happy with the new wages implemented for bunker attendants as the entire wage hike of up to 49 per cent has been absorbed by OMCs.

This was conveyed to the oil companies through written statements underlining their decision to this effect, said a statement issued by Subodh Dakwale, Executive Director (CC &Branding).

The scheduled strike was to press for long-pending demands ignored by the state-run oil marketing companies (OMCs) since an agreement was signed last November, news agency PTI reported.



Other News

Trending Now

Z Looking to Purchase Harvey Weinstein's Stake in The Weinstein Company
Responding to the incident, Page Six reported that a friend of the mogul reached out to the publication to clear the air. It eventually culminated with Harvey telling his daughter that she was "making it worse".

What The Wire story alleges against Jay, Amit Shah's son
He said Amit Shah's son Rs. 100 crores defamatory suit was an attempt to suppress the media and their freedom of expression. Goyal had said that the BJP's conscience is clear over the matter and that is why Jay Shah had filed the defamation case .

Kobe Steel Crisis Deepens As More Data Tampering Revealed; Shares Tumble
Kawasaki Heavy Industries and Mitsubishi Heavy Industries (MHI) supply parts to Boeing including for its 777 Dreamliner. It's not the first time Kobe Steel has been caught up in falsifying data.

Hamas announces reconciliation deal with Palestinian rival Fatah
Palestinian Prime Minister Rami Hamdallah (right) and Hamas chief Ismail Haniyeh hold hands in Gaza City October 2, 2017. Hamas seized Gaza from Fatah in a near civil war in 2007 and the two factions have been at loggerheads ever since.

What's Real Worth Of CA, Inc. (CA), Merck & Co., Inc. (MRK)
Ltd. increased its stake in shares of Merck & Co.by 2.5% in the third quarter. (NYSE:MRK) popped in on a low volume green day. After $1.01 actual EPS reported by Merck & Co., Inc. for the previous quarter, Wall Street now forecasts 1.98% EPS growth.

Motorola announces attractive price cut for Moto E4, Moto G5, Moto M, and Moto Z2 Play in India
Buyers of its phones can get up to 100GB extra 4G data for free, but more details in this regard have not been revealed yet. The original price of Moto G5 smartphone is Rs.12,599 and under the Moto Diwali Offer it can be purchased in just Rs.10,999.

Is Express Scripts Holding Company (NASDAQ:ESRX) A Safe Bet For Investors?
While taking a look at financials, we can look at a number of key indicators about Express Scripts Holding Company (ESRX ) . Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company.