Punjab Newsline, Chandigarh, March 13-
In a significant step towards fiscal prudence and efficient resource management, the Punjab Govt has signed a MoU with Indian Oil Corporation (IOC), in the presence of the Transport Minister Laljit Singh Bhullar, for the supply of diesel to Punjab Roadways/PUNBUS buses for the next five years.
Briefing the media persons here at Punjab Bhawan after the signing of MoU ceremony, Bhullar informed that this agreement would save the state exchequer approximately Rs.90 crore over its duration. The MoU was formally exchanged between Sh. Rajiv Kumar Gupta, Director State Transport-cum-Managing Director of PUNBUS and Ashutosh Gupta, Executive Director and State Head of IOC.
Bhullar informed that the agreement has increased discount and IOC has offered price in tune of Rs.2550 per kilo litre. This is an increase of Rs.570 per kilo litre compared to the previous agreement signed in 2019, which provided a discount of Rs.1980 per kilo litre.
The Cabinet Minister said that the agreement will save Punjab Roadways approximately Rs.9 crore annually. A similar
MoU is soon to be signed with PRTC, which will result in an additional annual saving of Rs.9 crore, bringing the total annual savings to 18 crore.