January 11: Minister for Industry, Commerce and Supplies, Matrika Prasad Yadav, has admitted that the state-run Nepal Oil Corporation (NOC) is full of irregularities. He, however, asserted that the government is effortful to curb irregularities at the NOC.

Addressing the 49th anniversary of the NOC in the capital city on Thursday, January 10, Minister Yadav reportedly said the leakage of oil at various levels from transportation to administration has put the customers at the receiving end.

“I’m tired of fixing problems at NOC. Although it is an uphill task to bring reforms at NOC, I’m working resolutely,” Rastriya Samachar Samiti (RSS) quoted him as saying.

RSS reported that the minister expressed his dissatisfaction saying although he tried his best to curb malfeasance in the sector of petroleum products, the private sector did not cooperate with him. He said that the government is going to launch an oil distributors’ regulation to manage fuel distribution.

The Minister further reminded that the government is ready to work together with the private sector. “Let’s resolve problems with consensus, hold discussions and make the NOC more systematic,” he urged all sides concerned.

“The price of petroleum products would be timely adjusted. Today itself, the air fuel for domestic purpose was reduced,” he added.

According to RSS, the Government has decreased the price of aviation fuel for domestic air service by Rs 10 per litre. The adjustment in the price was made following a decline in the price of crude oil in the international market.

Aviation fuel for domestic air service will now cost Rs 94.50 per litre against the existing 104.50 per litre.