Kathmandu, Oct 1: The Nepal Oil Corporation (NOC) has said its decision of increasing the price of petroleum products would be taken back from midnight today.
NOC stated through a notice today that the decision to hike the price of petroleum products has been withdrawn to be effective from today in accordance with the directive of the government.
A meeting of the Council of Ministers held today had instructed the NOC to immediately withdraw its decision of increasing the price of petroleum products, taking into consideration the imminent festivals and the interest of the general public.
NOC spokesman Manoj Kumar Thakur said the decision to hike the price has been retracted and it would be adjusted from the money to be received from the price stabilization fund and the Government of Nepal.
NOC on Saturday hiked the price of petrol and diesel by rupees six per litre, of kerosene by two rupees per litre and aviation fuel (both domestic and international) by eight rupees per litre.
Similarly, the price of LP Gas was increased by Rs 215 per cylinder. The price of LPG had reached 2,110 per cylinder after the hike in price.
RSP welcomes government move to withdraw revised prices
Rastriya Swatantra Party (RSP) President Rabi Lamichhane has thanked the government for the withdrawal of its decision to increase the prices of petroleum products.
Airing his views in a meeting of the lower house session today, Lamichhane accused the government of failing to fully implement the automated pricing system.
The government implements the system to adjust the increased prices, but it is not enforced for the falling prices,” he said.
He also took time to question over the monopoly of Nepal Oil Corporation in import, supply and monitoring of petroleum products.
PM instructs NOC to retract petro price hike
Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has instructed Nepal Oil Corporation (NOC) to withdraw its latest decision of hiking the price of petroleum products.
Talking to media persons after the meeting of the Council of Ministers today, Minister for Communications and Information Technology and government spokesperson Rekha Sharma said the Prime Minister has already directed the NOC to take back the price hike.
“The Prime Minister has instructed the Nepal Oil Corporation to withdraw its decision of raising the price of petroleum products effective from today itself.
Although the Corporation has adopted the automated pricing system, the PM issued this directive keeping in mind the problems this (the decision to hike price) would create to the people during the festival time,” she said.
The government spokesperson said that NOC will issue a notice today itself retaining the earlier price of petroleum products.
NOC on Saturday hiked the price of petrol and diesel by rupees six per litre, of kerosene by two rupees per litre and aviation fuel (both domestic and international) by eight rupees per litre.
Similarly, the price of LP Gas was increased by Rs 215 per cylinder.
