The Nepal Oil Corporation (NOC) has taken back its earlier decision to hike the prices of petro products following criticisms from several quarters.
Earlier in the day, a meeting of the NOC had decided to raise the prices of petro products—petrol, diesel and kerosene— by Rs 2 per liter in line with the auto pricing mechanism adopted last year.
NOC Spokesperson Mukunda Ghimire said the state owned fuel supplier revoked its decision following the directives from the Minister for Commerce and Supplies Sunil Bahadur Thapa.
“We have decided to roll back the price hike decision as it would not send a good message in the wake of devastating earthquake in the country,” said Ghimire, “It would not be good to raise the prices while others are providing relief to the earthquake victims.”
Earlier, the NOC had announced not to increase the petro prices until the relief, rehabilitation and reconstruction task in the aftermath was completed.