Indian Oil signs MoU with Punjab Transport Department to Increase Diesel Discount for public buses
The diesel discount has been raised to Rs. 2,550 per kilolitre (1,000 litres) under the new agreement.
Indian Oil signs MoU with Punjab Transport Department to Increase Diesel Discount for public buses
State-run Indian Oil Corporation Ltd and Punjab Transport Department have signed a Memorandum of Understanding to secure diesel for state-owned buses at a higher discounted rate, leading to significant cost savings for the government.
Mr. Laljit Singh Bhullar, the Punjab Transport Minister, said the state would save Rs. 9 crore a year with this deal. Mr Ashutosh Gupta, Executive Director and State Head of IOCL, and Mr. Rajiv Kumar Gupta, Director, State Transport-cum-Managing Director of Punbus, formally exchanged the Memorandum of Understanding.
The diesel discount has been raised to Rs. 2,550 per kilolitre (1,000 litres) under the new agreement. This is Rs. 570 more per kilolitre than the previous discount of Rs. 1,980 per kilolitre, which was established in 2019.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
Punjab Road Transport Corporation (PRTC) is also planning to sign a similar MoU, which is expected to generate an additional Rs. 9 crore in annual savings, bringing the total savings to Rs. 18 crore per year.
Over the next five years, this initiative is projected to save Rs. 90 crore for the state. Minister Bhullar highlighted that this move underscores the Punjab government’s commitment to financial efficiency and responsible resource management.
Read Also : CCI invites public comments on Bharat Forge Limited acquiring AAMCPL