House panel directs govt to keep fuel price in check

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NL Today

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Kathmandu: A House panel has directed the government to control the rising prices of petroleum products.

A meeting of Industry and Commerce and Labor and Consumers Committee of the House of Representatives held on Wednesday directed the government to keep fuel price in check.

After the discussion on rising fuel prices, the Chairman of the committee Bimal Prasad Srivastava said that the government has been instructed to control the price hike. Chairman Srivastava also urged the government to address the ‘legitimate demands’ of the Nepal Oil Corporation.

Fuel prices have gone up in Nepal for the past few months due to an increase in the price of crude oil in the international market. Oil prices surged further as the United States and Britain moved to ban Russian oil imports, a decision that is expected to worsen disruptions in the global energy market as Russia is the second-largest exporter of crude, international media reports said.