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Nepal Govt cuts fuel prices in the wake of social unrest

  • Sun Online Desk
  • 27th June, 2022 07:22:20 PM
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Nepal Govt cuts fuel prices in the wake of social unrest

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The fuel prices were skyrocketing in the country with petrol rising to Rs. 199 per liter while the price of diesel had reached Rs. 192 per liter, The Statesman reported.

Dilendra Prasad Badu, Minister of Industry, Trade and Supply, said that the government has reduced the price of petrol by 20 Nepali rupees (INR 12.50) and 29 Nepali Rupees (INR 18.12), effective from the midnight of June 25.

The state-owned Nepal Oil Corporation, in its clarification, said that the government levied Rs. 65.61 of taxes when the price of petrol was Rs. 199. When the diesel was Rs. 192 per liter, Rs. 49.53 was collected as tax. He added that the government also collects Rs. 10 as infrastructure tax on every one liter of petrol r diesel sold.

The Nepalese government, on its part, is maintaining that the only major factor that is affecting the prices of petroleum is the ongoing Russia-Ukraine crisis. After the price revision, petrol would be sold at Rs. 179 per liter and diesel at Rs. 163 per liter respectively.

In the past few days, Nepal had been witnessing protests from various student bodies. Legislators were also attacking the government for the hike in fuel prices. The newly revised fuel prices are set to provide some relief to the common masses and eventually, the government.

The government is described the lowering of fuel prices as a step to control inflation and provide respite to the citizens.