NOC gets Rs. 440 m from govt to ease supply of petroleum products

The Nepal Oil Corporation (NOC) on Wednesday got Rs. 440.49 million as loan assistance from the Ministry of Finance as per the government decision.

The government has decided to provide Rs. 2.1 billion to the cash-strapped sole state oil monopoly to ease the supply of petroleum products a week ago. As per the decision the government has given Rs. 440.49 million to the corporation.

The cabinet meeting on May 15 had decided to provide Rs. 1 billion from the Citizen Investment Trust (CIT), Rs. 600 million from the Employee Provident Fund (EPF) and Rs.500 million from the government to the corporation.

NOC still needs to clear dues of over IRs. 1.90 billion to Indian Oil Corporation, according to the corporation. nepalnews.com