January 5: Prime Minister Pushpa Kamal Dahal on Thursday directed to the concerned authorities to lower the prices of petroleum products.

The prime minister summoned Secretary Toya Narayan Gyawali of the Ministry of  Commerce and Supplies, to the Office of Prime Minister and Council of Ministers and directed him to cut fuel prices, in accordance with the price drop in international market and a revised  price list sent by the Indian Oil Corporations. 

Dahal’s press coordinator Surya Kiran Sharma said that the Prime Minister had instructed the Industry, Commence and Supplies Secretary to slash the prices of petrol, diesel and aviation fuel to give relief to the customers. 

Secretary at the ministry is the chairperson of the Nepal Oil Corporation. 

Nepal Oil Corporation is making a profit of around Rs990 million fortnightly as the fuel prices have come down in the international market.

However, the state-owned corporation is reluctant to cut the prices, citing huge debt and loan amounting to Rs 18 billion to be paid to the Indian Oil Corporation and to the Nepal government. 

Prime Minister Dahal had to instruct the secretary to slash the prices after the NOC refused to cut the prices despite tremendous pressure from various quarters.