The Government has relaxed
norms for setting up petrol
pumps allowing non-oil
companies to venture into the
business
The move could help private
and foreign firms to enter in
fuel retailing sector.
The Cabinet Committee on
Economic Affairs today
approved.the Review
of.Guidelines for Granting
Authorization to market
Transportation Fuels.
Briefing reporters in New
Delhi, Information and
Broadcasting Minister
Prakash Javadekar said,
companies with a net worth
of 250 crore rupees will be
allowed to sell petrol and
diesel subject to condition
that they install facilities for
marketing of at least one new
generation alternate fuel
such as CNG, LNG, biofuels
or electric vehicle charging
within three years of start of
operations.
