PM gives word to provide Rs. 1 billion to NOC

Nepal government is to grant one billion rupees to Nepal Oil Corporation (NOC) in a bid to ease the import of the petroleum products.

This initiative follows the warning of the NOC that the import of the petroleum products would go to a complete halt if the government fails to take a solid initiative.

Prime Minister Girija Prasad Koirala has expressed his commitment to the Minister for Industry, Commerce and Supply Shyam Sundar Gupta to provide the sum to ease the fuel supply. Minister Gupta said the prime minister has given words to instruct Finance Minister for the release of the sum.

In a meet with PM Koirala, Minister Gupta appraised the problems caused due to the petrol crisis and proposed the budget urgently required to the NOC. He said the import of the fuels was slashed by 50 percent due to the financial crisis facing the nation.

However, Finance Minister Dr. Ram Sharan Mahat has said the release of the budget was possible only after the cabinet passes the proposal. Earlier on Thursday, the NOC had sought the attention of the
government on smooth fuel supply.

Many serpentine queues of the vehicles are visible in Kathmandu valley to get fueled.