NRB suggests halving import of petroleum imports


April 6, 2022


NRB suggests halving import of petroleum imports

Nepal Rastra Bank, Baluwatar, Kathmandu. (File Photo)

KATHMANDU: Nepal Rastra Bank (NRB) has suggested the government reduce the import of petroleum products by more than half.

The central bank has given such suggestions while sending written suggestions to the Ministry of Finance regarding the current state of the economy.

Point 4 of the letter of recommendation addressed to the Finance Minister states that the government should manage the supply of petroleum products in such a way that only Rs 12 to Rs 13 billion is paid monthly.

According to the Nepal Oil Corporation, it has been paying at least Rs 24 to 29 billion monthly to the Indian Oil Corporation for purchasing petroleum products in recent months.