Fuelling business

Parsi entrepreneurs would be ideal partners for an oil company like Essar which is looking to set up across India more than 2,500 fuel outlets, already popularly known and recognized as the ‘Laal Pump’ (Red Pump), stated Yogesh Dhawan, vice president, retail sales, Essar Oil Limited. In a presentation to the members of the WZCCI, Mumbai Chapter, at Hotel Diplomat on October 15, 2004 on the occasion of the Chapter’s annual general meet­ing (AGM), Dhawan stated that what an entrepreneur needed was a space of 45 x 45 meters, an investment of around Rs 35 lakhs and "a burning desire to succeed.” Essar on its side would impart the technical knowledge, training and expertise to help set up the fuel outlets.

Petrol pumps and gas stations had earlier been a pre­ferred business of the Parsis in India, states a communiqué from WZCCI. In recent years, nationalization and unfavorable policies for allotment, quotas, restrictions, etc had seen a drop in the popularity of this business. With privatization making inroads and private oil companies like Reliance, Essar Oil, etc making an entry, the business is seeing a new energy, with even the PSU (public sector undertakings) shedding some of their complacency. The new age gas stations provide a host of other opportunities like convenience stores, ATM counters, Internet services and food outlets, besides auto service and repairs, adds the WZCCI. Raman Pandya, president of Essar Oil, answered questions from the audience regarding the Essar proposal.

Dhawan (left) being felicitated by Kersi Limathwalla

Aspi Katgara, general manager of The Zoroastrian Co-operative Bank Limited, commended the WZCCI for its efforts to promote business opportunities. Katgara invited entrepreneurs to take full advantage of credit facilities available from Zoroast­rian Bank but cautioned budding businessmen to consider new projects carefully and not jump in recklessly, so that they do not put their own and lenders’ funds to risk. Bombay Parsi Punchayet chief executive officer Behram Dastur mentioned that he would present to the Federation of Parsi Zoroastrian Anjumans of India the possibility of exploring the utilization of land out­side Bombay owned by outstation anjumans for setting up gas stations.

The accounts of the WZCCI Mumbai chapter for the year 2003-04 had been merged with the India Chamber and there were no separate financial reports prepared during the year 2003-04 for the Mumbai chapter, treasurer Yazdi Tantra informed the members at the AGM.