KATHMANDU, July 17: The government has implemented the Automated Pricing System (APS) for petroleum products effective from Sunday midnight.

The Nepal Oil Corporation (NOC) under the Ministry of Industry, Commerce and Supplies (MoICS) said that the APS has been enforced on petrol, diesel and LPG cylinders.

Secretary at the MoICS, Madhu Kumar Marasini, shared at a press meet that the meeting of the NOC's Board of Directors convened on Sunday had taken the decision to this effect in view of the interest of the consumers. Marasini expressed his confidence that the general public and entrepreneurs would get some relief with this decision. The decision, however, would not be applied to the price of aviation fuel.

"In the case of aviation fuel, there would be the same arrangement as before," said Secretary Marasini.

According to the APS, the retail price of petrol has been slashed by Rs 6 per liter, that of diesel by Rs 4 per liter and that of LPG cylinders by Rs 10 per cylinder.

With the APS in place, the new price of petrol is Rs 164 per liter and Rs 146 per liter for diesel in the Kathmandu Valley. The price of these two petroleum products, however, could vary in other places, according to the MoICS.

The new price of one LPG cylinder has come down to Rs 1,700 from Rs 1,800, it was shared at the press meet.

The APS was brought into effect after the NOC made due payments of Rs 31 billion to the Indian Oil Corporation.

Similarly, out of the Rs 7 billion loan obtained by the NOC from the Government of Nepal last year, Rs 3.5 billion is due. 

The NOC still has a total debt of Rs 29 billion. 

(RSS)

 
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