Explore Business Standard
Fuel outlets operating in the valley districts of Manipur have decided to shut down for three days starting Friday due to alleged "financial crisis" and "donation demands by various organisations". Representatives of the retail outlets made this announcement after an emergency meeting on Thursday, stating that any additional pressure during this time will result in further closures. On February 10, the representatives had informed Chief Minister N Biren Singh that they might be forced to close their retail outlets if the financial demands or donations exceed their capacity to pay. In the letter to the CM, representatives of the retail outlets highlighted the challenges faced by them, including a decline in sales, significant decrease in profit margins (almost 40-50%), and an "excessive number of demands for donations from various organisations." "We are facing a decline in sales due to the present crisis and our profit margins have decreased considerably by almost 40 per cent to 50