In a step that could be termed as financially beneficial to the PUNBUS and the Punjab Roadways, the two have signed an agreement with Indian Oil Corporation limited (IOCl) on Tuesday for discount of 40 paise per litre on supply of diesel to both organisations.
The agreement came over a week after the PRTC also signed a memorandum with the IOC to give the organisation exemption of 25 paise per litre on diesel supply.
Punjab Roadways spokesperson said that PUNBUS and Punjab Roadways have successfully negotiated diesel rates and finalized a discount of 40 paisa per litre for three years on the existing diesel rates.
“This discount is one of the highest discount
offered by IOC to State Transport Undertakings in the region and will result in a saving of over Rs 4.5 crores,” he said.
An agreement was signed between State Transport director-cum—PUNBUS managing director Malwinder Singh Jaggi and IOC chief divisional consumer sales marketing Prem Kumar.
The agreement will
be effective for a period of three years with effect from July 1, 2015.
IOC has also agreed to provide additional infrastructure like digital tyre inflators and online diesel monitoring dispensing units for effective monitoring of diesel, which will help reduce pilferage and result in saving to Punjab Roadways and PUNBUS.