Govt to give Rs One billion to NOC

The government is giving Rs one billion to cash-strapped Nepal Oil Corporation (NOC).

As the government was forced to roll back the decision to hike fuel price in the face of street protests, the Ministry of Finance has now decided to give the money to the NOC.

The NOC spokesperson Ichha Bikram Thapa has said that Rs 720 million will be used to pay outstanding dues to Indian Oil Corporation while the rest will be used to purchase the fuel.

The NOC still has outstanding dues worth Rs 1.96 billion to IOC. nepalnews.com sd Jan 27 08

Related News
- SPA holds election assembly in Janakpur amid tight security; bandh organisers clash with police