Centre announces major concessions for women entrepreneurs and MSMEs in petroleum and explosives sector

New Delhi, July 4, 2024 (TBB Bureau):  Union Minister for Commerce and Industry, Piyush Goyal, on Thursday unveiled significant concessions aimed at boosting entrepreneurship among women and supporting MSMEs in the petroleum and explosives sectors. According to an official statement released on Thursday, these measures include an 80 per cent fee reduction for women entrepreneurs and a 50% reduction for MSMEs on licences granted by the Petroleum and Explosives Safety Organisation (PESO).

In a directive to PESO, Minister Goyal instructed the organization to collaborate with the Central Pollution Control Board (CPCB) and the Ministry of Petroleum and Natural Gas (MoPNG) to establish safety guidelines. These guidelines will facilitate the operation of retail outlets at petrol pumps located near residential areas within 30-50 meters.

Goyal also highlighted advancements in safety measures, such as the inclusion of QR codes for cylinders in the draft Gas Cylinders Rules, with final notification pending. He also announced plans to form committees to explore extending the validity of explosives, transport, and manufacturing licences to 10 years, aligning them with existing norms for other licences.

To streamline regulatory processes, the Union Minister emphasized the involvement of third-party inspection agencies and the development of online permission modules by PESO, particularly for areas still relying on offline procedures. He also urged expedited filling of vacancies within PESO to enhance operational efficiency.

Addressing regulatory complexities, Minister Goyal proposed amendments to align licences issued under different rules for petrol pumps and CNG dispensing facilities, aiming to reduce compliance burdens and workload for PESO.

The Minister chaired a stakeholder consultation session on Thursday, gathering feedback from industry leaders in petroleum, explosives, fireworks, and related sectors. He emphasized the importance of balancing industry compliance with public safety standards in his remarks.