Petroleum Dealers Assoc.wants NP to extend two weeks’ credit to all petroleum dealers

Petroleum Dealers Assoc.wants NP to extend two weeks’ credit to all petroleum dealers

The Petroleum Dealers Association of Trinidad and Tobago is calling on state fuel distributor NP to extend two weeks’ credit to all petroleum dealers, so that they could help citizens adjust to the tough challenge of containing the spread of the COVID-19 virus.

 The PDA says that such a concession would show that NP is a good corporate social responsibility partner, and it would help dealers to manage their cash flow at an important time for an industry that is vital to national life.

 The PDA notes that NP itself is the recipient of a 30-day line of credit from Paria Fuel Trading Company.

 The PDA is also calling on NP to cancel the stringent credit requirements to which some dealers are now subjected. NP requires them to pay with certified cheques, and the PDA is calling on the state supplier to waive that requirement at this time. In addition to easing the burden on dealers, it would also mean that they do not contribute the kind of crowding at banks that increase the risk of spreading the virus.

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