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Petrol pumps in Manipur shut down for 3 days over financial crisis

Profit margins of retain fuel outlets decrease by 40-50 % due to decline in sales

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IMPHAL, Feb 16: Fuel outlets operating in the valley districts of Manipur have decided to shut down for three days starting Friday due to alleged financial crisis and donation demands by various organizations.

Representatives of the retail outlets made this announcement after an emergency meeting on Thursday, stating that any additional pressure during this time will result in further closures.

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On February 10, the representatives had informed Manipur chief minister N Biren Singh that they might be forced to close their retail outlets if the financial demands or donations exceed their capacity to pay.

In the letter to the CM, representatives of the retail outlets highlighted the challenges faced by them, including a decline in sales, significant decrease in profit margins (almost 40-50%), and an excessive number of demands for donations from various organisations.

“We are facing a decline in sales due to the present crisis and our profit margins have decreased considerably by almost 40 to 50 per cent,” the letter stated.

“Our employees have been getting threats and some of them have been kidnapped for ransom,” the letter added.

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“Some of our retail outlets (petrol pumps) have been asked to close down if we are unable to meet their demands,” it informed.

The representatives explained that managing expenses such as employee salaries, company fees, insurance, and income tax have become difficult with their current income.

“In light of these challenges, we have requested the chief minister’s assistance in overcoming the financial crisis,” they added. (PTI)

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The Hills Times
The Hills Timeshttps://thehillstimes.in/
The Hills Times, a largely circulated English daily published from Diphu and printed in Guwahati, having vast readership in hills districts of Assam, and neighbouring Nagaland, Meghalaya, Arunachal Pradesh and Manipur
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