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Economy

NOC hikes fuel prices

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KATHMANDU — Nepal Oil Corporation has jacked up the prices of petrol, diesel, kerosene and aviation turbine fuel with effect from Monday.

The state-owned monopoly has decided to increase Rs 1 per litre in petrol while it has increased diesel and kerosene prices by Rs 2 a litre, respectively. Likewise, price of ATF has been raised by Rs 4.5 a litre.

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Petrol will now cost Rs 111 per litre while diesel and kerosene will cost Rs 95 a litr and ATF will cost Rs 104.5 a litre.

The NOC, however, has not increased the price of Liquefied Petroleum Gas (LPG).

Even with this adjustment, NOC will still incur fortnightly loss of Rs 70 million, as per Birendra Goit, spokesperson for NOC.

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Economy

VYCCU SACCOS initiates missed call banking

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KATHMANDU— VYCCU Savings and Credit Cooperative Limited – the four time winner of prestigious ACCESS branding has initiated missed call banking as its another innovation.

ACCESS stands for “A1 Competitive Choice for Excellence in Service and Soundness” and its branding is presented by Asian Confederation of Credit Unions (ACCU).

The cooperative organization based in Gaindakot Municiplaity-8 of Nawalparasi district has launched this service on the occasion of its 29th annual general meeting.

With this, a member of the cooperative can check his/her balanced amount while ringing up 9802915550 and recharge balance in the mobile phone with Rs 100 while giving missed call to 9802915551.

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Inaugurating the annual general meeting of the organization in Gaindakot, Nepali Congress general secretary and Member of Parliament Prof Dr Sasanka Koriala lauded the VYCCU’s exemplary role in economic transformation of the people of the area.

“The leading cooperative organization has been performing in a way that contributes to the State to cherish its dream”, he said.

Cardiac specialist and social activist Dr Bhagawan Koirala, who was the key note speaker of the programme, stressed on the need to do routine physical exercise to maintain good health.

On the occasion, VYCUU has honoured ex-President of both National Federation of Savings and Credit Cooperatives of Nepal (NEFSCUN) and Asian Confederation of Credit Unions (ACCU) Rishi Raj Ghimire with VYCCU National Cooperative Award.

VYCCU presents this award to a national personality in every two year acknowledging his remarkable contributions to the enrichment of cooperative movement of Nepal, said VYCCU President Keshab Prasad Sapkota.

The cooperative organization with the member base of over 45,000 has generated an operational income of Rs 123 millions in the current fiscal year, shared manager Madhav Prasad Poudel.

Earlier, the VYCCU SACCOS has launched member medical insurance scheme, tablet banking, ATM services and different packages of financial and non-financial services.

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