Parmar retires from Charotar

Vol 14, PW 2 (15 Jul 10) News in Brief
     

Alabhai J.

Parmar, managing director of Charotar Gas, India’s only not-for-profit cooperative gas retailer, has stepped down after seven years to make way for YM Patel. “The time has come for new management,” 66-year old Parmar tells PETROWATCH.

“My mission is complete.” Last month Parmar won a significant victory in his battle for recognition as a gas retailer from the Petroleum & Natural Regulatory Board, which agreed to exempt the cooperative from the strict condition that all entities selling gas must be incorporated with limited liability under the Companies Act, 1956.

Parmar has been Charotar managing director since March 2003 and was instrumental in convincing villages in Gujarat’s Anand district to switch from firewood to gas. Today Charotar supplies gas to 14 villages but hopes to extend this to 50 villages over the next five years.

From a turnover of Rs1cr ($220,000) in 2003, Charotar this year reported turnover of Rs40cr and Rs5.62cr profit.