Chandigarh, Mar 13: The Punjab government has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation (IOC) to supply diesel for Punjab Roadways and PUNBUS buses, aiming to save ₹90 crore over the next five years.
Transport Minister Laljit Singh Bhullar, speaking at Punjab Bhawan after the signing, said the new agreement increases the discount on diesel, lowering the price to ₹2,550 per kilolitre—₹570 less than the 2019 deal, which offered a ₹1,980 per kilolitre discount.
“This agreement will save Punjab Roadways around ₹9 crore annually. A similar MoU with Punjab Road Transport Corporation (PRTC) is in the pipeline, expected to bring an additional ₹9 crore in yearly savings, totaling ₹18 crore per year,” Bhullar mentioned.
The MoU was exchanged between Rajiv Kumar Gupta, Director State Transport-cum-MD of PUNBUS, and Ashutosh Gupta, Executive Director and State Head of IOC, in the presence of Bhullar.
Bhullar said Chief Minister Bhagwant Singh Mann’s government remains committed to fiscal responsibility and ensuring safe, secure, and comfortable travel for passengers. “We are dedicated to providing efficient and passenger-friendly transport while optimizing public funds,” he added.
Additional Chief Secretary (Transport) D.K. Tiwari noted that the agreement resulted from extensive negotiations and will significantly reduce costs over the next five years.
