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Govt forms task force to study involvement of the private sector in the supply of petroleum products

File: Amalekhgunj depot of Nepal Oil Corporation after the cross-country pipeline came into operation -- fuel
File: Amalekhgunj depot of Nepal Oil Corporation after the cross-country pipeline came into operation

Kathmandu, June 3

The government is studying if the private sector can be involved in the supply of petroleum products and cooking gas in the country.

The meeting of the council of ministers on May 24 formed a high-level committee to reconsider various policy arrangements to make the supply of petroleum products systematic, transparent and effective. The meeting also talked about restructuring the Nepal Oil Corporation.

Minister for Industry, Commerce and Supplies Dilendra Prasad Badu said that the task force was formed to study the rising cost of petroleum products and see if there was an efficient way to import and distribute petroleum products in the country.

According to Minister Badu, the task force will be led by the vice-chair of the National Planning Commission, Biswo Nath Poudel. The task force will also include the governor of Nepal Rastra Bank, and secretaries from the Ministry of Finance, Office of the Prime Minister and Council of Ministers, Ministry of Energy, Water Resources and Irrigation and Ministry of Industry, Commerce and Supply.

According to him, the committee will also suggest policy, legal and institutional reforms to be adopted by the Government of Nepal to make the supply of petroleum products and LP gas systematic, transparent and effective.

The task force will also report on the distribution system, the current international price rise of petroleum products and its impact on the overall economy of the country and its mitigation measures, as well as administrative, managerial, financial reform and organisational restructuring of the corporation.

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