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19th of October 2018

Economy



Minister requests for lifting ban on NOC plots of land

Kathmandu, Aug 19: Minister for Industry, Commerce and Supplies, Matrika Yadav, has requested the parliamentary committee to lift legal restrictions on the land the Nepal Oil Corporation (NOC) earlier purchased for the storage of petroleum products.

At a meeting of the Industry, Commerce, Labour and Consumers Interest Committee under the House of Representatives today, the Ministry made this request. Legal restrictions were put following disputes in the procurement processes.

"The NOC needs the removal of restrictions on the land it had purchased for the specific purposes," he said, pledging to discontinue syndicate imposed by petrol pumps and tankers involved in the distribution and transportation of petroleum products. A lottery system, if necessary, could be practiced to make the process of granting permission to operate tankers and pumps transparent.

According to him, efforts are on to remove misconducts long existing in the industrial sector.

Prior to this, the committee members drew the attention of ministers towards the issues of embezzlement of funds in the purchase of plots of land by the NOC and monopoly by dealers and tankers associated with the distribution and transportation of petroleum products.

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