Wednesday Aug 10, 2022
Wednesday Aug 10, 2022

'Shortage of petro products in global market triggers price hike’

2022 Jun 04, 7:54, Kathmandu
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Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has clarified that the shortage of petroleum products in the global market has triggered the price hike in Nepal.

At Friday's meeting of the National Assembly, Minister Badu said it, taking part in the deliberations on a proposal of urgent public importance tabled to reduce the prices of petroleum products.

NA member Devendra Dahal presented the proposal of urgent importance, seeking government efforts to immediately reduce the price of petroleum products, including cooking gas, diesel, petrol and kerosene.

Minister Badu said, “The government was compelled to hike the price in Nepal when there was an acute shortage of petroleum products and subsequent increase in the price in the global market due to Russia-Ukraine war”.

Noting that the government was ever sensitive to adjusting the price of petroleum products, Minister Badu informed that the government has reduced the unit price of petrol, diesel, and kerosene by Rs 10 per liter for the relief to the people. He further shared that the Nepal Oil Corporation is being operated at a loss of Rs 7.77 billion per month.

The proposal was backed by parliamentary members Sundar Shrestha, Bimala Ghimire, Khimlal Devkota and Shekhar Kuamr Singh.

Dilendra Prasad Badu Minister for Industry Commerce and Supplies Petroleum products Price Hike Devendra Dahal National Assembly Russia-Ukraine war
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