KATHMANDU: Nepal Oil Corporation (NOC), the only state oil monopoly, has not slashed the price of petroleum products despite huge profits it is making.
According to the price list sent by Indian Oil Corporation (IOC), the NOC is on profit of Rs 420 million in the period of two weeks (April 1 to 15), which comes around Rs 28 million in profit on a daily basis.
According to the new procedure, the NOC has to adjust the price of petroleum products as per the new price-list sent by the IOC. The IOC sends the price list twice a month – on 1st and 15th of every month.
The price which was adjusted on February 2 is still in effect.
Comment