For the 3rd time in a month, NOC refuses to reduce fuel prices despite cheap purchases. The corporation has refused to make price adjustments for the third time in the last month, citing regular loss.
During a press conference in Kathmandu on Tuesday, NOC Managing Director Umesh Prasad Thani stated, “We couldn’t make any decision to reduce the prices immediately because the corporation’s financial burdens are still heavy.” He stated that the corporation owes Rs 23 billion to the Indian Oil Corporation, as well as approximately Rs 10 billion to the government of Nepal and commercial banks.
Meanwhile, consumer advocates have condemned the corporation’s decision. According to activist Jyoti Baniya, the corporation made rules but did not enforce them, leaving consumers to bear the brunt of inflation.
