KATHMANDU: The government has decided to provide a 50 percent waiver on customs duty and infrastructure development tax imposed on the import of petroleum products, including petrol, diesel and kerosene.
A Cabinet meeting held on Tuesday took the decision after noting that the Nepal Oil Corporation has incurred losses of around Rs 11.72 billion in the past 15 days alone, Minister for Federal Affairs and General Administration Pratibha Rawal said after the meeting.
Rawal also said that measures to reduce fuel consumption include extending the public holiday to Sunday in addition to Saturday, the possibility of implementing an odd-even rule for vehicles, and promoting the use of electric vehicles and ethanol.
Fuel prices were last increased on April 2, when the Nepal Oil Corporation raised the price of petrol and diesel by Rs 15 per liter.
The price adjustment was made citing a continuous rise in crude oil prices in the international market.
As per the revised rates, petrol is priced at Rs 202 per liter in the Kathmandu Valley, while diesel and kerosene are being sold at Rs 172 per liter.
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