NOC facing daily loss of Rs 880 million on fuel
Summary
Nepal Oil Corporation is facing a daily loss of Rs 880 million due to rising international fuel prices and unchanged domestic rates, with high government taxes also impacting consumers.
Key Points
- Nepal Oil Corporation is incurring a daily loss of around Rs 880 million due to rising international petroleum prices.
- NOC has been selling fuel at a significant loss while not adjusting domestic prices except for aviation fuel.
- The government imposes high taxes on petroleum products, contributing to high consumer prices.
- NOC warns that its price stabilization fund of Rs 19 billion may be exhausted within 15 days if prices remain unadjusted.
