HIMALAYAN NEWS SERVICE
KATHMANDU: Nepal Oil Corporation (NOC) has failed to maintain the smooth supply of petroleum products even though the corporation has received enough funds from the government recently.
Most of the petrol pumps in Kathmandu valley remained closed today after the corporation failed to supply enough petroleum products, said general secretary of Nepal Petroleum Dealers’ National Association Bishwa Aryal, adding that it is a gross failure of the NOC management that consumers are compelled to stay in queues for hours to get fuel even after paying a high premium.
“Petrol consumers contribute Rs 11.88 profit to the corporation,” said Aryal, adding that the current management of the state oil monopoly has failed to ensure the smooth supply of even petrol which is nothing more than an apparent failure of the corporation.
The government had recently released a loan of Rs 2.10 billion to the state-owned oil monopoly to clear the dues of Indian Oil Corporation (IOC). NOC’s loss has also decreased and it has been making profits in petroleum products other than diesel and Liquefied Petroleum Gas popularly known as cooking gas.
The loss in diesel is also nominal after its decision to hike the price of diesel and kerosene by Rs four yesterday, said Aryal, adding that the Ministry of Commerce and Supplies and even the Office of the Prime Minister have failed to oversee the functioning of NOC.
The motive behind why the corporation often creates bottlenecks in the supply of petroleum products is not clear, he added.
NOC’s management has been citing various reasons for the scarcity of petroleum products, a source at the corporation said, adding that the actual problem is nothing more than inefficiency of the management.