Wednesday, 4th March 2015

Info Minister says petro price hiked to save Oil corp from 'bankruptcy '

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NOCMinister for Information and Communication Dr. Minendra Rijal has made it clear that the decision to hike the prices of petroleum products would not be withdrawn despite protests.

Speaking to media persons in Biratnagar on Sunday, Minister Rijal said that the government decided to increase the prices of petroleum products due to the need to save the Nepal Oil Corporation (NOC), the state monopoly on supply of petroleum products, from bankruptcy.

“So there was no alternative but to hike the prices of petroleum products to save Nepal Oil Corporation which is incurring millions of rupees in losses on a daily basis,” he said, adding that the price of milk was also increased keeping in mind the welfare of farmers who didn't get proper value for their products.

Thirteen student organizations have come up with 6-day protest programme against state-owned NOC's recent decision to hike the price of petrol by Rs. 10, diesel by Rs. 6 and kerosene by Rs. 6 per litre.