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Nepal Oil Corporation allocates Rs 260 million for bonus, but staff won’t get it anytime soon

File image: Nepal Oil Corporation office

Kathmandu, January 24

The Nepal government-run Nepal Oil Corporation has allocated Rs 260 million for bonus to its staff from its annual profit for last fiscal year 2016/17.

The staff, however, will not get the money immediately; instead, the bonus will be saved at the office for other purposes. The government has directed the Corporation not to distribute bonus to the staff as it is likely to create a fury among members of the public.

It has already been three years since the Corporation staff got the bonus last time. More than Rs 2.8 billion has been saved in these three years.

Though the Corporation earned a profit of Rs 9.45 billion last year, the bonus amount now will be spent in infrastructural development and purchase of petroleum products in emergency, according to the Corporation’s Executive Director Sushil Bhattarai.

“Not distributing the bonus has made us easy to buy oil and gas when we are at loss,” Bhattarai says, “We do not have to take any loan.”

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