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OMCs unsure on cash transfer for cylinders

OMCs unsure on cash transfer for cylinders

State-run Oil Marketing Companies (OMCs) in Hyderabad and Ranga Reddy districts seem to have no clarity on how the cash transfer will take place for subsidized cylinders.

Some industry sources feel that the finance ministry will transfer the amount to the respective oil companies who will then reimburse the amount in the individual bank accounts of the consumers.

While some others expect the ministry to set up a bridge bank for transferring the amount from where it would go directly to the consumer.

In this situation, OMCs are not sure about their role in the transfer of the subsidy amount. As per the government campaign, once the scheme becomes operational, the LPG consumer should pay the full amount of Rs 1,030 per cylinder to the gas company at the time of its delivery.

Of this, the subsidy amount of about Rs 580 will subsequently be transferred to the bank account of the consumer.

OMCs are also not clear about the timing of the cash transfer. According to some officials, once a LPG consumer buys a cylinder, the subsidy amount will be deposited into his or her bank account. However, according to other sources, the subsidy amount will be transferred to the beneficiary’s account only at the end of the month of purchase.

But one this is for sure. The scheme should be implemented only after the whole linking process is fully put in place. For that, the Aadhaar card should be given to all the LPG consumers.

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