Srinagar, Apr 21: The petrol pump dealers have decided to call off strike from April 23 (Monday) on the assurance of Union Petroleum Minister Jaipal Reddy to accept their demands.
 Spokesperson, Kashmir Valley Petroleum Dealers Association confirmed to Greater Kashmir that the strike has been called off.
 He said: “Petrol dealers held a meeting with the union minister for Petroleum and it was on the assurance of the minister about accepting their demands that the petrol dealers decided to call of the strike.”
 To mention, 40,000 pump owners across the country had decided to go on strike from April 23 if centre failed to increase their profit margin.
 However, according to reports the union minister has agreed to increase the profit margin of the dealers in coming days.
 Sources said the union minister had also stated that the centre government will form a committee to regulate mushrooming of petrol pumps in residential areas which was one of the demands of the dealers.
 Pertinently, 40,000 petrol pumps owners had decided to go for ‘No Sale No Purchase’ from midnight April 23.
 They were stating that with the increase in the price, their investments in the business also increased which put more interest burden on them while shrinking their working capital.
 The dealers said in neighboring countries like Nepal, Pakistan and Sri Lanka commission is given on percentage basis on the sale price ranging from 3 to 5 percent.
 Meanwhile, the petrol dealers in the Valley also expressed their dismay over growing number of petrol pumps in residential areas or close to human habitations.

Lastupdate on : Sat, 21 Apr 2012 21:30:00 Makkah time
Lastupdate on : Sat, 21 Apr 2012 18:30:00 GMT
Lastupdate on : Sun, 22 Apr 2012 00:00:00 IST