The Price protection Scheme of GAIL is announced w.e.f. 18.11.2021, details is as given below :
The Price Protection Scheme is applicable to all grades of HDPE & LLDPE w.e.f. 18.11.2021, till the next price revision / price announcement or 01.12.2021, whichever is earlier.
The computation methodology for processing the refund on post-sales basis shall be as follows:
i) Difference in price between the respective ex-works basic price (as on next price revision / price announcement or 01.12.2021, whichever is earlier) and the ex-works basic price actually invoiced.
ii) Quantity Applicability: Quantity lifted from both ex-works, ex-stock point & ex-warehouse.
iii) Time Span: From 18.11.2021 till next price revision / price announcement or 01.12.2021 (i.e. lifting up to 30.11.2021), whichever is earlier.
iv) This scheme is applicable to all classification of grades which includes A, B, and OG as done earlier.
v) Price Protection to be valid only in case of a downward revision in the prices and the refund on post-sale basis shall be issued through a credit note at the end of the month on post-sale basis.
vi) The price protection is not available for P41, PE-Shred, Machine Waste, Powder waste, G-lex/ G-lene Fines, Butene-1, Spent Alumina, B52A Powder / W52A Powder, PS/GS and all other Polymer waste By-products as done earlier.