Govt asked to take measures to control prices of petroleum products

Published On: March 10, 2022 11:13 AM NPT By: Republica | @RepublicaNepal

KATHMANDU, March 10: The Industry and Commerce and Labor and Consumers Committee of the House of Representatives has directed the government to control the prices of petroleum products.

The committee discussed the increase in the prices of petroleum products on Wednesday. In the meeting, the lawmakers said that the people would be severely affected if they could not control the rising prices of petroleum products.

After the discussion, the parliamentary committee has directed the government to control inflation and provide petroleum products in an accessible way without harming consumers. The committee has also warned the government to address the appropriate demands in the Nepal Oil Corporation (NOC).

Recently, petrol price has been increased by Rs 2 per liter, diesel by Rs 3 per liter, aviation fuel by Rs 5 per liter domestically and internationally by Rs 100 per kiloliter. The price of cooking gas has been increased by 25 rupees per cylinder.

The NOC has stated that the price has to be adjusted due to the increase in the price of petroleum products in the international market. If the price is not increased, the corporation will have to bear a loss of Rs 1.6 billion annually and even after the increase, the corporation will have to bear a loss of Rs 40 million.

Meanwhile, another parliamentary committee has formed a committee to probe the government's decision to increase the price of petroleum products. A meeting of the Committee for the Implementation, Monitoring and Evaluation of Directive Principles, Policies and Responsibilities of the States under the Federal Parliament has formed a sub-committee to investigate the rise in prices of petroleum products.

A three-member sub-committee has been formed under the coordination of MP Durga Poudel. MPs Khem Prasad Lohani and Laxmi Pariyar are the members of the committee. A sub-committee has been formed to study the rises in the prices of petroleum products and possible alternatives.

In the meeting, the members of the committee mentioned that the people have been affected due to the imported petroleum products and demanded to expedite the exploration of petroleum products in Nepal.