Nepal govt rolls back petroleum price hike

Kathmandu, Aug 20: The Nepal Government has withdrawn the decision to increase the price of petroleum products.

''The cabinet meeting decided to take back its decision made on Friday last to increase the prices of petroleum products,'' Minister for Industry, Commerce and Supplies, Hridayesh Tripathi told Kantipur after the meeting which was held at Prime Minister's residence at Baluwatar, this evening.

Public vehicles remained off the roads and major market closed down in Kathmandu today protesting the price hike of petroleum products.

The protestors blocked the roads and burnt tyres. The protest was led by students and youths affiliated to the major parties of the seven parties coalition government. The MPs in the parliament strongly opposed the decision to increase prices.

Prime Minister Girija Prasad Koirala, who was in his home town Biratnagar for the last few days told party workers that the Government would readjust the price hike of the petroleum products.

Immediately after retuning to Kathmandu, Mr Koirala called a cabinet meeting and decided to withdraw the price hike of petrol, diesel, kerosene and cooking gas.

The government has also decided to form a three memmber task force regarding the adjustment of the petroleum price hike, it is said.

After the price hike, prices of petrol had gone up to Rs 84.28 per litre, Rs 59.08 for diesel and Rs 59.21 for kerosene.

UNI

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