An acute shortage of petroleum products has hit consumers in capital Kathmandu and other cities across the country Saturday after Nepal Oil Corporation (NOC) failed to supply the required amounts to the dealers.
Many petrol pumps in Kathmandu have remained closed Saturday due to the unavailability of the petrol and diesel. The shortage arose as NOC could not supply enough petrol and diesel to the dealers.
NOC distributed only 277 kilolitres of petrol and 407 kilolitres diesel from its depot in Thankot on Friday, said Saroj Pande, chairman of Nepal Petroleum Dealers Association. The stock will last only till Saturday morning, he added.
NOC did not supply enough petroleum products to the dealers as Indian Oil Corporation (IOC) cut down the supply by up to 40 percent. IOC has refused to supply more petroleum products until NOC settles the outstanding credit amount.
NOC has not been able to pay IOC in full due to shortage of funds. The corporation has asked a loan from the government to settle the dues with the Indian Oil Corporation.
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