Freeing Petrol Pump Licensing Can Help Grow Competition in Fuel Retailing: ICRA

Freeing Petrol Pump Licensing Can Help Grow Competition in Fuel Retailing: ICRA  News18A government-appointed expert committee recommending scrapping of the Rs 2,000 crore investment norm for a licence to set up petrol pumps will help enhance competition in the growing domestic market for auto fuels, ICRA said Tuesday. At present, to obtain a fuel retailing licence in India, a company needs to invest Rs 2,000 crore in either hydrocarbon exploration and production, refining, pipelines or liquefied natural gas (LNG) terminals. The recommendations "would increase the competition levels for the PSU oil marketing companies (OMCs) who currently are dominant in the sector," ICRA sai...

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