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Business EconomyPosted at: Feb 21 2019 7:00PM


Petrol pump dealership: More than 2,500 candidates given LoI for 2018-19

New Delhi, Feb 21 (UNI) Minister of Petroleum and Natural Gas Dharmendra Pradhan on Thursday rolled out the allotment of new Retail Outlets (RO) by Oil Marketing Companies (OMCs).
Mr Pradhan at an event here at the Constitution Club issued the intimation online by click of button, to over 2,579 successful candidates, who can collect their respective LOIs from the OMC offices.
At the same time, such LOIs were also issued at 12 other places in the country. The Minister also handed over the Letter of Intent (LOI) to a few eligible applicants.
Public Sector OMCs had advertised for 78,493 locations for setting up Retail Outlets across 35 States/ Union territories, for which more than 4 lakh applications were received.
"Network expansion has been an important activity of OMCs for increasing the reach of petroleum products across the country. The expansion will help them maintain their market leadership and expand the footprint in major geographical areas of the country. These OMCs already operate over 57,000 retail outlets presently," Mr Pradhan said while briefing reporters.
Mr Pardhan underlined the importance of technology and transparency, with the computerised “draw of Lots/bids opening” for selection which was conducted with no manual interference for the first time. The hassles of manually submitting voluminous documents by the applicants, in support of eligibility and their scrutiny, was dispensed with.
He said that the selection of common man in the selection process is indicative of the transparency, simplification of process, and availability of equal opportunity.
"With the allotment of present round of retail outlets, the pendency of over 5000 ROs, earmarked for SC quota, will also be completed."
Mr Pradhan said that strike rate of over 30 per cent in allocation of ROs is likely to be there leading to setting of thousands of ROs, and this will create lakhs of direct employment in these petrol pumps, besides opportunity for other associated and ancillary activities.
He congratulated the OMCs for speeding up the process as the advertisements started appearing in November, 2018, bids were opened in January, and now the allotment process has already begun.
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