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. Write your comments RELATED NEWS Turkey invites Nepal PM to COP31 climate summit Nepal tunnel adopts cashless toll payment system Nepal monsoon defies early El Niño drought fears Nepal police plan anti-cyber scam centre amid rising cybercrime When the State Pulls the Trigger, Who Answers ? India’s Jaishankar to invite Balen for BRICS summit Top Headlines Monsoon is predictable and Nepal’s disaster response should be too1 Before the Ballots: How Oli Lost the Political Narrative2 Balen’s Silence Has Invited Curiosity, Confusion, and Concerns3 Promotion Linked to Future Military Leadership: Major General Magar Could Become Army Chief4 Nepal “a Buffer State”: Rethinking foreign policy in relative terms5 Nepal’s Political Renaissance: The rise of the RSP, the re-ordering of the old political order and the political path forward6 Jagdamba Group Chairman Shankar Agrawal Arrested7 ‘Promotion of Ayurveda, Yoga and meditation along with modern medicine positive’8 TRENDING Pathao, Tootle resume ride sharing services after authorities relax lockdown National Poet Madhav Prasad Ghimire no more Impact of Social Media on Nepalese Society Public Relations for a Soldier Nepal Army initiates investigation into case of financial irregularities by Lieutenant Colonel Janmat Karki Nepal Army’s mission in Lebanon provides Covid support kits to local municipalities Why Are Boys Unexpressive? Police make a woman public in connection to Gongabu murder case
