Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]

NOC Pays Over Rs 13 Billion to IOC with Government’s Assistance   

  1 min 23 sec to read
NOC Pays Over Rs 13 Billion to IOC with Government’s Assistance   
Notice (8): Undefined index: caption [APP/View/Articles/view.ctp, line 241]

January 25: Nepal Oil Corporation (NOC), the state-owned oil monopoly of the country, has paid Rs 13.2 billion to the Indian Oil Corporation (IOC) for the purchase of crude oil.

The NOC, which has reportedly suffered losses, sought Rs 1.8 billion from the government and paid installment to the IOC, informed NOC’s spokesperson Binit Mani Upadhyay. NOC received the amount from the price stabilization fund of the government. It sent the second installment to the IOC on Monday, January 24.    
A meeting of the board of directors of the price stabilization fund on Friday decided to provide Rs 1.8 million to the NOC.    
The corporation has been reportedly incurring losses as prices of petroleum products have increased in the international market. It would further endure losses if the prices of petroleum products are not adjusted following the increment in the purchase price, according to experts.    
Meanwhile, the NOC is reportedly worried about how to pay the third installment to the IOC for need of money.  -- RSS   

 

Deprecated (16384): Using key `action` is deprecated, use `url` directly instead. [CORE/Cake/View/Helper/FormHelper.php, line 383]
No comments yet. Be the first one to comment.