Wednesday, 23 January 2008

Government decided to take back price hike

Today, in the cabinet meetings, Government rolled back the decision of the price hike in petroleum products. Since the protests was going on the second days in Kathmandu and all over the country, Government of Nepal, after the cabinet meeting, decided to take back the previous decision of price increase in petroleum products. Government of Nepal, has been facing great loss in the business of petroleum products. Government is providing heavy subsidy in the all form of petroleum products. Amazingly fossil fuels are cheaper in Nepal than India from where she use to buy it.
The price of petrol, diesel and kerosene in 1990 were NRs. 19, 7.5 and 6.00 per litere respectively which has been Nrs. 80.00, 56.25 and 51.20 respectively at the moment. And, the price of Cylinder Gas (LPG) was 380 in 1996 which has been increased to 1100 NRs. at the moment after Government took back the hiked price 1250 NRs.

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