KATHMANDU: Minister for Industry, Commerce and Supplies Gauri Kumari Yadav has instructed representatives of major private sector umbrella organizations to immediately reduce market prices, citing the decline in global oil prices.
During a special meeting held at the Ministry of Industry, Commerce and Supplies in Singha Durbar on Monday, Minister Yadav said that as international oil prices have fallen, prices in the domestic market should also be adjusted accordingly.
The meeting was attended by representatives of the Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries, Nepal Chamber of Commerce, the Federation of Fruit and Vegetable Entrepreneurs, and the Federation of Rice, Pulse and Edible Oil Traders. Business leaders used the meeting to raise concerns about challenges facing their sectors.
After hearing their grievances, Minister Yadav said soaring market prices have placed an excessive burden on the public and directed businesses to lower prices without delay or excuses.
She urged traders to ensure smooth distribution of essential daily commodities, including salt, cooking oil, rice and green vegetables, and to adjust prices based on the actual market situation.
The minister added that both the government and the Prime Minister are closely monitoring the issue and that the ministry is committed to making the market more consumer-friendly as quickly as possible.
Representatives of the private sector responded positively to the minister’s directive, expressing their commitment to cooperate with the government and take necessary measures to reduce prices and provide relief to consumers.
Senior officials from the Ministry of Industry, Commerce and Supplies and heads of agencies responsible for supply management also attended the meeting.
At the beginning of the program, Joint Secretary and ministry spokesperson Netra Subedi gave a brief presentation on the provisions of Nepal’s Consumer Protection Act.
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