Petrol pump business under pressure of extra costs and bureaucratic complexities: Owners' association

The Bangladesh Petrol Pump Owners' Association made these remarks in a statement on Friday (July 31).

The statement said that around 10 types of licenses are required to conduct business in the fuel sector. Obtaining these licenses requires a long wait as well as huge amounts of money. In many cases, the organization alleges, the licensing process cannot be completed even after years due to various complexities.

Petrol pump owners claim that they work mainly as commission-based agents. They have to buy fuel by paying advance money to the importing and supplying companies. After that, they have to run the business bearing the risks of selling on credit and recovering dues.

According to the association, even after completing the entire fuel selling process, a large portion of the actual profit goes to the importing companies. On the other hand, new administrative directives and restrictions are being imposed on pump owners day by day, making business operations even more difficult.

The statement further said that in the current situation, those who run their businesses honestly and in accordance with the rules are suffering the most. Although the relevant authorities have been informed of various problems for a long time, no effective solution has been found. As a result, many businessmen in the liquid fuel sector are worried about the future.

The organization believes that if effective measures are not taken quickly to resolve the existing crisis, the country's petrol pump business could face even bigger challenges.