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Economy

NOC hikes fuel prices

Gorkha Post

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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

Business community demands slash in interest rate

Pratigya Waiju

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BIRATNAGAR— The industrialists and traders in Biratnagar have asked the government to immediately reduce the high interest rate charged by the bank and financial institutions (BFIs) from the borrowers.

They argued that the interest rate should be around seven percent for the production-based industries and up to nine percent for the trading firms.

At a programme jointly organised by Industry Association Morang and Trade Association Morang on Thursday, the business leaders drew attention of the government to that end adding that job creation for the labour force of 500,000 was not likely only from the industry and trade sectors.

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Stressing the need for slashing the interest rate, they also argued the central bank should realise the reality that no bank was running out of loss. The industrialists and businesspersons said that industries and business should flourish to reduce the trade deficit, strengthen the economy and create more job opportunities.

Industrialists Bhim Ghimire, Pawan Kumar Sharda, Sushen Pyakurel, Moti Dugad and others said that bank’s interest rate should be low to increase the domestic investment and lure the foreign investment.

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