TIDC asks Banks to provide loans for CNG vehicles

Agartala, Jun 27 (UNI) The Tripura Industrial Development Corporation (TIDC) has advised banks and financial institutions to provide transport loans for supply of cheaper and environment friendly fuel-- the Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG).

Talking to UNI here today, TIDC Chairman and member of Tripura Natural Gas Company Limited (TNGCL) Board of Directors, Mr Pabitra Kar said that in order to cater to the need for alternative fuel, TNGCL had decided to set up more CNG filling stations across the state and press a CNG mobile van on National Highway to supply cheaper and environment friendly fuel.

Mr Kar said India has 354,000 CNG vehicles mostly in Mumbai and Delhi but Agartala was the first CNG station in the Eastern India, which had been set up for environment friendly fuel, though it is yet to be mandated by the government for public transport means.

''Since India is not producing oil, the country entirely depends on fossil fuel export from gulf countries and as a result foreign exchange as well as emission of green house gases were increasing everyday leading to global warming,'' Mr Kar said adding CNG was the best option to manage soaring inflation and environmental pollution.

He however, informed that CNG had not yet been popular in the state and even after two years of its introduction in Tripura so far, only one percent vehicles were converted into CNG and recently TIDC had suggested the banks for funding only CNG vehicles under various self-employment schemes in the state.

Mr Kar stated that CNG and LPG vehicles would be the best alternative following the increase in price of petrol and diesel, as CNG price was less than half from one litre of petrol.

In addition, the cost of running CNG fitted cars was substantially lower than the cost of running gasoline fitted ones.

Though initial investment was little high, in the long run it was worthy, Mr Kar said adding that besides cost issues it was necessary with the growing environmental concern and the state government's proactive measures to implement Euro-II emission norms.

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