Kathmandu, June 4. Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has clarified that acute shortage of petroleum products in global market has triggered price hike in Nepal. 

In the Friday meeting of the National Assembly, Minister Badu said it, taking part in the deliberations on a proposal of urgent public importance tabled to reduce the prices of petroleum products. 

NA member Devendra Dahal presented the proposal of urgent importance, seeking government efforts to immediately reduce the price of petroleum products, including cooking gas, diesel, petrol and kerosene. 

Minister Badu said, “The government was compelled to hike the price in Nepal when there was acute shortage of petroleum products and subsequent increase in the price in global market due to Russia-Ukraine war”. 

Noting that the government was ever sensitive to adjust the price of petroleum products, Minister Badu informed that the government has reduced the unit price of petrol, diesel and kerosene by Rs 10 per liter for the relief to the people. He further shared that the Nepal Oil Corporation is being operated at a loss of Rs 7.77 billion per month. 

The proposal was backed by parliamentary members Sundar Shrestha, Bimala Ghimire, Khimlal Devkota and Shekhar Kuamr Singh.