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NOC claims Rs 870m in compensation from IOC

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KATHMANDU —

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.
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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.

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26 rhinos die in a year in CNP

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CHITWAN — Chitwan National Park (CNP) witnessed zero poaching of endangered one-horned rhinoceros in the fiscal year 2074/75. But the death of the rhinos by natural causes has increased recently, as the park has lost a total of 26 rhinos to various causes in this period.

26 rhinos died from various reasons including natural disaster in the period, according to the CNP information officer, Nurendra Aryal.

Four rhinos were killed in flood-related incidents with two caught in a marsh caused by the flooding while two were swept away by flood waters, he informed.

Fighting, delivery complications (in case of some female rhinos) and aging are other reasons behind the deaths of a noticeable number of this endangered wildlife last fiscal year. Three female rhinos succumbed to child delivery complications in this period. They died after failing to give birth to their babies.

The park however has recorded no case of rhino poaching since April 8, 2017.However, the number of rhino deaths due to other reasons was slightly up in the year compared to the previous year, according to the CNP Information Officer Aryal.

This figure is followed by 25 and 15 rhino deaths in previous two fiscal years respectively.

The natural causes led to the death of 24 rhinos in the fiscal year 2073/74 and 15 in 2072/73.

The need of a study was felt to seek potential ways for minimising the death risk among rhinos with their death toll increasing every year, CNP chief conservation officer, Bed Kumar Dhakal said. A squad from the Department of National Parks and Wildlife Conservation has already begun a study to this end.

The CNP latest details mentioned about 605 rhinos here.

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