Stories Tagged 'Fuel import'
The country’s fuel import bill surged 43.1 percent in fiscal 2017-18 to Rs170.13 billion as a rising dollar, increased smuggling and jump in crude oil prices took their toll.
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Nepal’s oil import bill ballooned to a record Rs131.93 billion in the first 10 months of the fiscal year, largely due to a sharp growth in domestic consumption despite regular electricity supply.
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Nepal Oil Corporation (NOC) will be installing a security locking system on oil tankers bringing fuel through the Nepalgunj and Bhairahawa border points from April 23 in a bid to eliminate pilferage in transit. Currently, only tankers entering Nepal through Kakarbhitta are fitted with the locking system.
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Import of petroleum products through the Birgunj-Raxaul border point on Tuesday surged four times than the consignment on Monday.
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The parliamentary Public Accounts Committee (PAC) has asked Nepal Oil Corporation to provide the details of its plans to import petroleum products through private companies after its deal with Birat Petroleum got embroiled in a controversy. The state-owned oil monopoly has got three days to submit the information.
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Minister for Commerce and Supplies Ganesh Man Pun on Sunday said the government is making necessary preparations for importing fuel from China.
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