The Finance Ministry has handed over Rs One billion to the state-owned Nepal Oil Corporation (NOC) on Thursday.

The money was made available to NOC to pay to Indian Oil Corporation (IOC).

The government had earlier promised NOC of the amount after it was forced to roll back the hike in fuel price.

The NOC, which still has outstanding dues worth Rs 2 billion with IOC, paid the money to IOC on Thursday itself.

“Now we will bring 4000 kiloliters of petroleum products per day,” said NOC executive director Digambar Jha. On average, Nepal’s daily fuel demand lies at around 3300 kiloliters.

In recent days, the acute scarcity of diesel, kerosene and cooking gas have hit the consumers. nepalnews.com sd Feb 01 08