Petroleum dealers welcome NP station sell-off

THE Government’s proposed sell-off of NP service stations will hugely incentivise current franchisees to become owners, to diversify their products and become more committed to their stations, Petroleum Dealers Association head Robin Narayansingh told Newsday on Monday.

“This is very welcome news to the petroleum dealers. It took the Finance Minister to do what several people had promised to do many, many years ago.

“This will bring a certain sense of security to these people. This is such welcome news for the survivability of gas stations.

"You will see the landscape of TT change in dramatic ways, to see private enterprise at its best.”

Narayansingh alleged cases where dealers had been treated with contempt by NP and then felt marginalised.

But now, he said, “Dealers will welcome this news from the Finance Minister. It will give them more reason to work hard and provide service to their community they serve. They will have property which they will shape into the way they want it for their community. Every gas station has its own peculiarity. If you are in a fishing area in Cedros the items you would want to carry in your station would be different to the one if you were in a station in downtown Port of Spain.”

He said the liberalisation will increase the diversity of products offered across stations. “Gas stations will want to sell different things to increase their survivability and to become a more community-based organisation.”

While any group of people will include rogue elements, he said in the grand scheme of things the liberalisation was something to look forward to.

“It will bring more camaraderie to the dealers.”

NP chairman Shahid Hosein said his organisation, through its board, will follow the Government’s instructions to sell off its stations.

“The minister made the point that throughout the world you have a very liberalised fuel sector.”

He said the sell-off will depend on whether reliable retailers exist.

“If asked, I’d say yes they do. There is already a private company operating, Unipet.”

Hosein made the point that this sell-off would not be the end of NP, which will still supply LPG cooking gas, ultra fuel, aeroplane fuel and fuel for ships.

“If the physical assets of the gas shops are sold, NP does not cease to exist.”

Hosein said the sell-off was tied to the issue of fully removing the fuel subsidy.

“That is not something that just dropped out of a hat. It’s part of this whole issue to liberalise the industry and the pricing more in keeping with market pricing.”