FM Koirala stresses private sector should get on board to ensure smooth supply of petroleum products
Finance Minister Shankar Prasad Koirala said that it is necessary that the private sector emerge as competitor in the supply of petroleum products in the country in order to ensure the smooth supply of fuel in the country.
Addressing the fifth General Assembly of Nepal Petroleum Transport Entrepreneurs' Federation here in the capital on Saturday, Koirala admitted that with too much politicization of state-owned Nepal Oil Corporation (NOC) all sorts of problems have cropped up in the sector. He said this was the reason NOC has not been able to ease supply of petroleum products.
On the occasion, petroleum entrepreneurs opined there is a need of privatization of the petroleum industry in order to save NOC from bankruptcy.
The representatives from the private sector have also demanded the government to allow them to invest up to 51 percent in the Nepal Oil Corporation (NOC). nepalnews.com