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BIMSTEC Summit concludes with 18-point Kathmandu Declaration

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KATHMANDU — The fourth summit of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) has concluded with an 18-point declaration.

The declaration — expected to enhance the effectiveness of BIMSTEC Secretariat by engaging it in various technical and economic activities in the region– was signed on Friday, the second day of the summit.

Prior to this, Foreign Ministers of BIMSTEC member countries have signed a Memorandum of Understanding on the Establishment of BIMSTEC Grid Interconnection, witnessed by their heads of state/government.

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Prime Minister KP Sharma Oli who is the current chair of BIMSTEC, handed over the chairmanship of the next BIMSTEC summit to Sri Lankan President Maithripala Sirisena.

Giving a closing speech after handing over the chairmanship of the next BIMSTEC summit to Sri Lankan President, PM Oli congratulated Sri Lanka for its assumption of the role as new host for BIMSTEC and extended thanks to the heads of states/governments of member countries for their participation and support in materialising the summit with success.

He then officially concluded the summit with the hope that the dignitaries had a comfortable stay in Nepal.

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Petroleum products’ prices go down

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KATHMANDU- The Nepal Oil Corporation (NOC) has slashed the prices of petroleum products effective this midnight.

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A meeting of the NOC held today reduced the prices of petrol, diesel and kerosene by Rs 2 per litre each. With the adjusted price list, petrol shall cost Rs 112 per litre while diesel and kerosene will be available at Rs 99 per litre, NOC spokesperson Birendra Goit shared.

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