RSSThe price hike in petroleum products has been taken back by the Nepal Oil Corporation. This is probably the first time in the history that the hike had been taken back. The violent protest worked this time.
Now the thing to see is whether Nepal Oil Corporation will be able to maintain the supply according to the consumption. It is understandable that the hike in price was quite justifiable. The rise in the international market has also crossed the record high and in no way we need to get the same thing at a cheaper rate. The main concern is that when the price drops in the international same should be applicable here.
With such big due that Nepal Oil Corporation owes to the Indian Oil Corporation, there isn't any way of regular supply. It had thought of compensating the due amount by recovering from the price increment. Now it has no option and the supply will be hit very hard.
Now the thing to see is whether Nepal Oil Corporation will be able to maintain the supply according to the consumption. It is understandable that the hike in price was quite justifiable. The rise in the international market has also crossed the record high and in no way we need to get the same thing at a cheaper rate. The main concern is that when the price drops in the international same should be applicable here.
With such big due that Nepal Oil Corporation owes to the Indian Oil Corporation, there isn't any way of regular supply. It had thought of compensating the due amount by recovering from the price increment. Now it has no option and the supply will be hit very hard.
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