The parliamentary committee's took the decision following widespread complaints that NOC was not adjusting price of fuel even though price of petroleum products has been falling in the international market.The committee also directed NOC to transfer profits that the latter made by not adjusting fuel prices during the Indian blockade to the Price Stabilization Fund and draft necessary laws for using the amount to develop necessary infrastructures for effective supply of petroleum products.
Similarly, the parliamentary panel has also directed NOC not to distribute bonus to staffers unless its accumulated loans are cleared. "Even though NOC board has already decided not to distribute bonus, we have heard that NOC management has set aside hefty sum for bonus distribution," Bhisma Raj Aangdambe, chairman of the committee said, adding, "We urge NOC to either use the allocated amount to clear government's loan, or deposit it into Price Stabilization Fund or use it to develop infrastructure."
Speaking at the meeting, NOC Chief Gopal Khadka said fuel prices will be adjusted every month now onwards. He also informed that NOC recently paid Rs 3 billion to the government and that its outstanding dues now stands at Rs 9 billion.
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