Nepal govt withdraws petroleum price hike

Kathmandu, Jan 23 (UNI) The Nepal government has withdrawn its decision to hike the price of petrolum products after protests across the country.

Nepal Oil Corporation (NOC) has been directed to roll back the hike through an emergency ministerial-level decision, Supplies Minister Shyam Sundar Gupta said.

A ministerial level meeting was held after Prime Minister Girija Prasad Koirala asked the line ministries to review the decision to hike POL prices, the minister added.

Mr Gupta argued that the hike was made after careful consideration.

The government will think about addressing the losses incurred by the NOC in the coming days, the minister was quoted as saying.

UNI XC SR RK2250