AILPGDF forwards grievance to Ministry of petroleum

Jammu, 13-Sep: A Joint grievance has been sent to Ministry of Petroleum and Natural Gas by the All India LPG Distributors Federation ( Gujarat ) , All India LPG Distributors Federation NWR and LPG Vitrak Association Bihar . These federations represent states of J & K , Punjab , Himachal Pradesh , Haryana , Union territory of Chandigarh , Bihar and Gujarat for immediate recall of draconian policy of Hindustan Petroleum Corporation Limited imposing penal interest on outstanding amounts from HPGas distributors and for refunding any amounts already deducted from the account of HPGas distributors . The interest recovering policy of HPCL states that for distributors outstanding amounts between Rs 25000 and 20 lacs HPCL will be charged 18 % annual interest or Rs . 1500 / – per day which ever is higher and for more than Rs.20 Lacs outstanding the Corporation will charge 24 % interest per annum or Rs . 5000 / – per day whichever is higher . This means it charges the minimum amount of interest i.e Rs . 1500 / – per day . Thus the interest deducted on an outstanding of Rs . 26000 / – for a day works out to 2105.77 % per annum . Similarly by deducting the minimum amount of interest I.e Rs . 5000 / – per day on an outstanding of Rs . 2100000 / – the interest rate works out to 86.90 % per annum . This policy puts to shade , what interest the private money lenders in villages charge from illiterate peasants and hapless borrowers .. Meanwhile, For any further clarification , the following spokesmen of the three Federation’s contact numbers are given below : All India LPG Distributor Federation ( Gujarat ) : Mr. Niraj Vashi Mobile No 9825123762 All India LPG Distributors Federation ( NWR ) : Mr. Mukesh Bindlish Mobile No. 9814707496 LPG Vitrak Association Bihar . : Mr. Raj Tiwari Mobile No. 8084049506