Nepal explores Gulf option to overcome petro woes

The government has corresponded with three Gulf countries in order to explore the possibility of purchasing petroleum products in cheaper rates, reports Kantipur daily.

The daily reports that the government has sent letters to United Arab Emirates, Saudi Arabia and Qatar.

"The government letter has been forwarded to the government here and I am closely following it up," Nepalese ambassador to Saudi Arabia Hamid Ansari told the daily. He said that there is possibility of importing crude or refined oil from the Gulf countries via Kolkata or Radhikapur (Bangladesh) port.

The report adds that the price of one liter of petrol in Gulf countries is around Rs 18 compared with Rs 100 in Nepal. Likewise, the price of one cylinder of cooking gas is Rs 200 in those countries compared with Rs 1300 here.

Following the response from the Gulf countries, a team of Nepalese experts are likely to visit the Gulf countries in order to determine the cost and transport arrangements. nepalnews.com Aug 05 08

Related News
- Fuel crisis may deepen: NOC