My Republica
Our Portal
My City
From
The Print
Republica

We are a team of professional management and journalists — one of the best in the Nepali media. Our duty toward our readers is to provide them with impartial news, bold views, in-depth analysis and thought-provoking commentary. We shall do this without fear or favor, and we shall be guided by nothing but our conscience.

Know More

Latest Article By Author

Published On: December 22, 2016 08:14 PM NPT By: Republica

NOC told to rollback price hike decision

NOC told to rollback price hike decision

KATHMANDU, Dec 22: A sub-committee under the parliamentary Industry Commerce and Consumers Welfare Committee has directed the Nepal Oil Corporation (NOC) not to implement its decision to increase price of petroleum products.

The sub-committee directed the state-owned petroleum monopolist following a meeting held on Thursday, arguing that the decision contravenes with the automatic pricing mechanism introduced by the NOC recently.

“While the price of petroleum products is decreasing in the international market, the NOC's move to increase the price of petroleum products will hit consumers,” the sub-committee said in a statement on Thursday, dismissing the NOC's argument that the hike in price will check smuggling of petroleum products.

The NOC had decided to increase the price of diesel, petrol and kerosene on December 18.

Leave A Comment