File KYC by December or lose subsidy

NEW DELHI: Cooking gas consumers with multiple connections who do not submit Know Your Customer (KYC) forms by month-end will lose subsidized supply and will be charged market rates, the government said on Friday. 

"The LPG gas connection of those multiple LPG connection-holders, who fail to furnish the KYC forms by the prescribed date, will be suo moto converted into non-domestic exempted categories (NDEC) rate connections," minister of state for petroleum Panabaaka Lakshmi told the Lok Sabha. 

The government had in September decided to restrict subsidized LPG to six cylinders of 14.2kg each per household annually. 

Subsidized LPG costs Rs 410.50 per cylinder in Delhi, and additional requirements beyond the six cylinders for domestic use are to be procured at Rs 895.50 per unit. A 14.2kg cylinder for non-domestic use is charged at commercial rate as is referred to as NDEC and costs Rs 1,156. 

In a written reply to a question in the Lok Sabha, the minster said the extended date for fulfilling the KYC formalities is December 31. In a nationwide exercise to weed out multiple or ghost connections, the government had previously set November 15 as the deadline for customers to submit filled KYC forms with their respective distributors. 

Only multiple connection holders should submit the KYC details before the new deadline, an official said. Oil companies have identified over two crore households, who have taken multiple connections at the same addresses under different names, he added. 

The official said oil firms are implementing the policy of 'one household, one connection', and have asked consumers to voluntarily give up additional connections. 

New subsidized LPG connections will be issued after completion of the KYC formalities and multiple connection check."All LPG consumers are eligible for three subsidized domestic cylinders during the remaining part of the current year ending March 31, 2013," the official said.

Courtesy: http://timesofindia.indiatimes.com