Govt receives applications from 286 PACS for setting up retail petrol/diesel pumps: Amit Shah
Amit Shah, in his written reply to the Rajya Sabha, also said 109 PACS from four states have agreed to convert their whole consumer pumps to retail outlets, with 45 of them already receiving letters of intent from oil marketing companies (OMCs)
As many as 286 Primary Agricultural Credit Societies (PMAC) from 25 states and Union Territories have applied so far to set up retail petrol and diesel outlets, Cooperation Minister Amit Shah informed Parliament on Wednesday.
Shah, in his written reply to the Rajya Sabha, also said 109 PACS from four states have agreed to convert their whole consumer pumps to retail outlets, with 45 of them already receiving letters of intent from oil marketing companies (OMCs).
The initiative helps to strengthen PACS by creating additional revenue streams and enhancing their financial sustainability. It also generates significant employment opportunities for the rural youth through the operation and management of the retail outlets.
"Moreover, by making fuel more accessible in rural areas, it supports agricultural and transportation needs, contributing to local economic growth and reducing dependence on urban centres for such services," the minister added.
The government has permitted PACs to take retail dealership of petrol/diesel pumps and OMCs have issued guidelines in this regard.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.