The probe team headed by Supreme Court Judge Top Bahadur Singh formed to look into the irregularities at the Nepal Oil Corporation has concluded in its report that the lack of political commitment and the involvement of high ranking officials in embezzlement have been the reasons behind the deplorable state of the Corporation.

In its report submitted to Prime Minister Chand, the probe committee has stated that there was no way out other than to hike the price of kerosene and diesel if the Corporation was to be given a lease of life.

The team has also suggested that the government initiate a probe into the property holdings of the officials working at the Corporation. The report has stated that the Corporation has been incurring huge losses through leakages to the tune of nearly one billion rupees.