Nepal Oil Corporation (NOC) has sought compensation from Indian Oil Corporation (IOC) for heavy financial losses and brand image damage caused by the IOC’s refusal to provide petroleum products to Nepal.
Writing a letter on Friday, NOC approached IOC to pay for the losses caused over the last 15 days. Figures published by the NOC on its site show that NOC enjoyed Rs 870 million in profit in the second half of September and NOC has claimed that amount from the IOC.
NOC has asked the IOC to compensate for the losses mainly in the last two weeks since the Indian company stopped fuel supplies. “We asked the IOC to respect the agreement between the two parties,” said an NOC official.
In a strongly worded letter, the NOC said the 40-year bond between the two organizations had arrived at a crossroads. “IOC, being a multinational company, should not be involved in such unethical and unreasonable business practices, that too with a longtime business partner like the NOC,” reads the letter.
The NOC used to import 300-350 tankers of petrol/diesel and 35-40 bullets of liquefied petroleum gas on a normal day.
The business losses due to the current embargo have affected the NOC’s move to clear its debt.
In the past one year since the adoption of an automated pricing mechanism, the NOC has reduced its loans to Rs16.64 billion from over Rs35 billion. It owes Rs4 billion to the Citizen Investment Trust and the remaining Rs12.64 billion to the government.Follow @gorkhapost
TIA resumes operation after Malindo aircraft skids off runway towed
KATHMANDU — Tribhuvan International Airport has resumed operation since 9:00 am Friday morning after it was closed at around 10:45 pm on Thursday.
The airport had halted all international flights following the runway excursion by the Kuala Lumpur-bound Malindo Air flight on Thursday night, according to TIA officials.
The Boeing 737-900ER aircraft taking off for Kuala Lumpur from Kathmandu skidded off the runway at 10:07 pm yesterday.
The flight OD 181 with call sign 9M-LNJ, was cleared for takeoff from runway 20 with 139 people, including 4 crew members, on board the aircraft.
It has been learnt that the pilot swerved the plane towards the ground from the runway after sensing some technical glitches with the tyres of the aircraft.
But the aircraft apparantly couldn’t stop because of the take-off speed and load at the final moment and overran 50m south (Koteshwor side) from the runway threshold and rested in a grassland at around 22:08 pm (local time).
The runway was closed following the incident. However, the aircraft has not suffered any damage but the front tyre has been stuck in the mud.
In March 2015, a Turkish Airlines aircraft also suffered a runway excursion during landing at TIA that had closed the country’s sole international airport for four days.Follow @gorkhapost