Govt to readjust fuel prices after NOC clears its debts

Nepalnews, 8-Feb-08

Minister for Commerce and Supplies Rajendra Mahato Saturday promised that the government would review the prices of petroleum products in the domestic market in line with the prices of crude oil in the international market, according to media reports.

However, he was quick to add that the government will take this move only after the Nepal Oil Corporation (NOC), the sole supplier of petroleum products in the country, clears its outstanding debt.

While speaking at an interaction programme organised at Parsa district headquarters Birgunj, Minister Mahato also attributed the government’s inability to readjust the fuel price as per the international market value to huge debts of NOC.

Soon after the NOC clears its debt that amounts to Rs 16 billion, the government will readjust the domestic fuel prices in accordance to the prices of crude oil in the international market, he said.

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