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Economy

NOC hikes prices of petro products by Rs 2 per litre

Gorkha Post

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KATHMANDU — Nepal Oil Corporation has hiked the prices of petroleum products by Rs 2 per litre in petrol, diesel, kerosene effective from Wednesday midnight, official at the NOC said.

The state-owned monopoly , however, has not increased the price of Liquefied Petroleum Gas (LPG).

According to the new revised rate, the petrol will cost now Rs 110 per litre and diesel and kerosene will cost Rs 92.

ALSO READ :  NOC hikes fuel prices

However, petrol will cost Rs 109.50 in Dang and Pokhara respectively, likewise, petrol will cost Rs 108.50 per litre all over Nepal except in aforementioned locations.

Similarly, diesel and kerosene will each cost Rs 92 per litre within 15-kilometre distance in Kathmandu Valley and Rs 91.50 per litre in Dang and Pokhara respectively.

The price has been hiked as per the revised rates sent by the Indian Oil Corporation, according to 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.

ALSO READ :  NOC slashes fuel prices

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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