गृहपृष्ठ ∕ Nepal ∕ NOC pays over Rs 13 billion to IOC with government’s assistance Nepal NOC pays over Rs 13 billion to IOC with government’s assistance KathmanduPati January 24, 2022 File Photo KATHMANDU – Nepal Oil Corporation (NOC), the state-owned trading enterprise 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, asked for Rs 1.8 billion from the government and paid the IOC in the second installment, said the NOC’s spokesperson Binit Mani Upadhyay. NOC took the amounts from the price stabilization fund of the government. It sent the second installment to the IOC today. The price stabilization fund board of directors meeting 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 prices of petroleum products are not adjusted following the increment in the purchase price, said experts. Meanwhile, the NOC is worried about how to pay the third installment to the IOC for want of money, it has been learnt. Comments 0 Share your view on this story. Please keep it civil and respectful. No comments yet. Be the first to share your thoughts. Leave a comment Cancel replyYour email address will not be published. Comments appear after moderation.CommentName * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ Write your comments RELATED NEWS Switzerland signals readiness to support Nepal’s development Border force seizes illegal goods worth Rs 1.33 billion Nepal’s ruling party opposes Envoy nominee over conflict Nepal records 132,814 international visitors in October, up 3.4% Nepal sees light rain as cyclone Murusu approaches India Nepal Oil Corporation projects Rs. 3.21 billion loss over two… Top Headlines PM Shah pledges Krishnabhir highway reopening within month1 Nepal “a Buffer State”: Rethinking foreign policy in relative terms2 Monsoon is predictable and Nepal’s disaster response should be too3 Promotion Linked to Future Military Leadership: Major General Magar Could Become Army Chief4 When the State Pulls the Trigger, Who Answers ?5 Before the Ballots: How Oli Lost the Political Narrative6 Nepal’s Political Renaissance: The rise of the RSP, the re-ordering of the old political order and the political path forward7 Balen’s Silence Has Invited Curiosity, Confusion, and Concerns8 TRENDING Once on the Margins, Women Diplomats Are Now Making Their Mark in Nepal’s Foreign Service Sector Pathao, Tootle resume ride sharing services after authorities relax lockdown What Makes Prithivi Narayan Shah a Philosopher and a Truly Democratic King? What role has the Nepal Army been playing in controlling the coronavirus? National Poet Madhav Prasad Ghimire no more Impact of Social Media on Nepalese Society UPAYA CITY CARGO LAUNCHES Version 3.0 Public Relations for a Soldier
