Petrol shortage turning normal

The petrol crisis sparked off by curtail in supply from Indian Oil corporation (IOC) is turning normal as IOC increased the volume of supply. However, IOC is still maintained control to other petroleum products.

A report quoted Umesh Dahal, Deputy General Manager of Nepal Oil Corporation (NOC) as saying that the Indian supplier on Monday issued 400,000 kiloliters of petrol, which is twofold the quantity it was issuing for over the past 10 days.

The increased supply, however, is still less than normal import volume. IOC continued to cut supply of diesel, kerosene and aviation fuel by 40 percent, according to NOC officials. The petrol supply of increased volume is not the regular resumption.

"The relaxation on petrol supply has been done for the time being only, and NOC will receive normal supplies once it releases fresh installment to clear past dues," the report quoted Iccha Bikram Thapa, NOC spokesperson as saying. NOC owes Rs. 6 billion to the IOC. Owing to accumulated loss, it failed to release the scheduled payment of Rs. 240 million this month, which culminated in reduction of supply from IOC by 40 percent.