Prime Minister Pushpa Kamal Dahal 'Prachanda' has directed to slash down prices of petroleum products.
The PM, who also hold the portfolio also the Minister of Industry, Commerce and Supplies, instructed secretary of Commerce and Supply to reduce the prices.
"The PM summoned Commerce and Supplies secretary to the ministry after the cabinet meeting today and instructed him to reduce the price of petroleum products as consumers have been hit hard," a source said, "Nepal Oil Corporation is likely to take a decision on this today."
Lately, Nepal Oil Corporation is making profit in all petroleum products, except LP gas used for cooking. The corporation is securing over Rs one billion profit due to the drop in petroleum products prices at the international level.
Notably, the corporation is also securing more profit than the law allows on aviation fuel and kerosene.
The Commerce and Supplies secretary whom the PM instructed serves as chairman of the Board of Directors of the corporation.
