A few days after the government decided to provide just Rs. 2 billion for cash-trapped Nepal Oil Corporation (NOC), Minister for Commerce and Supplies Lekhraj Bhatta Sunday said that NOC, the state oil monopoly needs at least Rs. 8 billion to ease the supply of the petroleum products.
Speaking at an interaction in Kathmandu, Minister Bhatta also claimed that fuel supply will not ease until NOC gets Rs. 8 billion from the government to pay outstanding due to Indian Oil Corporation (IOC).
Though the government has decided to provide Rs. 2 billion to address the fuel shortage, minister Bhatta said that the supply of fuel will not ease immediately as it will take time to release the amount from the Citizen’s Investment Trust (CIT) because of administrative procedure.
The Maoist minister also informed that he had already proposed NOC to provide the amount and has also forwarded proposal to the cabinet. Nepalnews.com