Nepal faces worst fuel crisis since 1990

KATHMANDU, Apr 29 (Xinhua): Nepal Oil Corporation, which has slashed fuel import by 40 per cent, is on the verge of running out of its diesel and petrol stock, informed sources revealed to Friday 's The Himalayan Times. NOC's Thankot depot, country's second largest storage facility, is left with mere 1,100 kl of petrol and 1,800 kl of diesel. The stock is barely enough to meet the need for the next two days before hitting, what NOC officials, call the "dead stock"-the last 600 kl of petrol and 800 kl of diesel that cannot be pumped out for distribution and use. But NOC officials privately confided to this daily that they had internally communicated, by word of mouth, to downplay the stock that is the lowest since 1990. According to NOC sources, the looming fuel crisis is due to the government's apathy. The state oil monopoly says it cannot ensure smooth supply unless it either receives loan from the government or the state raises the price of petroleum products substantially. But the Finance Ministry is saying it cannot give more loan to NOC at present, rather it may strictly ask the state oil monopoly to repay its loan. "The Finance Ministry is writing to all public enterprises to pay their loans that have crossed the committed deadline," revenue secretary Krishna Hari Banskota told the daily.