The government is mulling to adopt automatic pricing mechanism (APM) to address the losses being incurred by the state-owned Nepal Oil Corporation (NOC) in its fuel trade from this month, according to media reports.
Minister for Commerce and Supplies Rajendra Mahato reportedly said that the enforcement of APM in the petroleum sector is aimed at adjusting prices in conjunction with international trend as soon as festive season ends.
The move is expected to bring harmony between import-sales price gap, thus helping the NOC to tide over its losses in its fuel trade.
To see the light of the day, the plan needs to be approved by all the parties in the government.
According to the ministry, the enforcement of APM is simply mandatory to ward off the losses as well as perennial problem of fuel crisis, which has frequently dogged the nation since the last four years.
It is estimated that the country has suffered a net loss of over Rs 20 billion in petroleum trade so far. nepalnews.com