NOC pays Rs 1.5 billion to IOC

The Nepal Oil Corporation (NOC) has taken all necessary measures to ensure that the scarcity of petroleum products does not continue further.

The NOC today supplied 223,000 litres petrol, 425,000 litres diesel and 47,000 litres kerosene to petrol pumps in the valley.

According to NOC Spokesperson, Mukunda Dhungel, the Corporation today transferred Rs 1.5 billion to Indian Oil Corporation.

Dhungel said the board of directors meeting on Tuesday discussed about ways to increase the effectiveness of distribution of cooking gas and providing concession to students.

The NOC is presently at a loss of Rs. 21 billion.

The Corporation has been bearing a loss of Rs. 431 per cylinder of cooking gas.