Top officials of Nepal Oil Corp arrested by anti-graft agency for distributing bonuses despite loss
The Commission for the Investigation of Abuse of Authority (CIAA) on Tuesday arrested acting Executive Director of Nepali Oil Corporation (NOC) Suresh Kumar Agrawal including three other senior NOC officials following news reports that the public enterprise distributed bonuses despite suffering cumulative loss.
The other officials taken into custody by the anti-graft body are Director Nagendra Sah and Managers Kamal Prasad Sharma and Netra Prasad Kafle.
CIAA held the four officials after finding them breaching its directive to all public enterprises (PEs) not to distribute bonus if they are suffering cumulative loss in order to instigate financial discipline in the state-owned entities.
According to a press statement issued by NOC, the arrest comes following CIAA investigation over a news report that said the state-owned monopoly on supply of petroleum products had distributed bonus to its employees in 2065 despite suffering cumulative loss. nepalnews.com