The government has requested the Indian Oil Corporation to provide fuel for the next three months in credit, so as to ensure the regular supply of petroleum products in the market.
The proposal has been made at the Indo-Nepal Commerce Secretary level talks that began in India on Monday, according to Joint-Spokesperson at the Ministry of Commerce and Supplies, Dipak Raj Pandey.
The Nepal Oil Corporation currently lacks cash flow, and support from the IOC for a three month period would help avoid a scarcity of petro products in the market, he added.
Speaking at the regular spokesperson-journalist meet at the Ministry of Information and Communications today, Pandey said the NOC is currently incurring a monthly loss of Rs. 102.9 billion and so various alternatives have been presented before the Ministry to cover the losses.