Tuesday, January 6, 2015

Time to bank your LPG subsidy

…or risk paying double

GANGTOK, 06 Jan: Cash Transfer Compliant LPG consumers of Sikkim registered under PAHAL-Direct Benefits Transfer for LPG (DBTL) Consumers Scheme will now have to purchase their refills from their respective distributors at Rs. 935 per cylinder. The subsidy due to them for the LPG will then be directly deposited into the bank account registered by them with the Ministry of Petroleum and Natural Gas. At present, domestic LPG cylinders enjoy a subsidy of Rs. 475, and this amount will be deposited directly into the concerned bank account within three days, officials inform.
This new system came into effect from 01 January 2015 onwards.
Speaking to NOW!, Menla Ethenpa, Sr. General Manager, State Trading Corporation of Sikkim, confirmed, “Those consumers who have already registered under CTC will now receive the subsidy amounts directly into their registered bank accounts.”
He informs that those LPG consumers who have still not completed the paperwork to have the subsidy transferred to their respective bank accounts will be allowed three more months to do so. During this period, such consumers will continue to receive their quota of LPG cylinders at Rs. 460 per cylinder.
After this period of three months is over, those consumers who have still not completed the process of receiving the subsidy into their bank accounts, will have to purchase LPG refills at the market rate [currently at Rs. 935]. They will however be entitled to their subsidy, which will be transferred to them the moment they link their bank accounts to the scheme. For this, the subsidies will be “parked” on their behalf by the concerned authorities [for an additional three months after March 2015] and release as an when consumers register their bank accounts to receive the subsidy.
“In case a consumer still does not become CTC during this Parking Period, the parked funds will lapse and consumer shall become ineligible to receive the parked funds and sale will continue at market determined price till the consumer becomes CTC,” Mr. Ethenpa explains.
According the. Sr. GM at STCS, out of the around 1.5 lakh LPG consumer registered across the state, 80 per cent have already become CTC consumers.
As per the Ministry’s assurance, the subsidy amount will be transferred within three days from taking of delivery, it is informed.

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