At a time when capital city Kathmandu sees a reflection of acute petrol shortage in the serpentine queues of vehicles in several petrol pumps, a minister of coalition government revealed that Nepal government was going to hike price of petroleum products soon.
Minister for Industry, Commerce and Supply Rajendra Mahato on Friday informed that the government has decided to hike the price of petroleum products as it was the only alternative to resolve existing petrol crisis in Nepal.
Talking to the journalists in Parsa district of eastern Nepal, Minister Mahato said it was better to maintain smooth supply in 'high price' rather to be riled always under crisis.
"Consumers are aware of the petrol crisis that Nepal is facing for a long time, they should also know we have no other option than to increase the price," Minister Mahato said.
The minister also said that the price adjustment would ease the government to pay outstanding due to Indian Oil Corporation (IoC), the sole distributor of petroleum products which stands around 4 billion Nepalese rupees.
Due to the failure Nepal Oil corporation (NoC) to pay due, IoC has cut petrol supply by 70 percent to Nepal. The decrease in supply has been sparking petrol crisis in Nepal for a long time.
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