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Showing posts with label Hike Petroleum Price Nepal. Show all posts
Showing posts with label Hike Petroleum Price Nepal. Show all posts

Sunday, March 16, 2014

why suffer and make the public pay the Price: Price Hike in Petrol

Yesterday it was the world consumer day and we heard the news that the prices of petroleum products went up. What an irony and what recognition?

The Nepal Oil Corporation has announced an increase of Rs. 10 in petrol, diesel by Rs. 6 and kerosene by Rs. 6 per liter. The previous selling prices were Rs.130 for petrol, Rs. 103 for diesel and Rs.103 for kerosene.

At previous rate, the NOC was making a profit of Rs. 2.82 from petrol and Rs. 5.67 from kerosene. But was suffering a loss of Rs. 10.30 in diesel.

I sincerely think our government or leadership should think about privatization in this sector, one thing we all need to understand is when you cannot manage; you should accept and call the experts who can or let the market decide. Why suffer and make the public pay the Price?

The main reason of the Losses in the NOC is caused due to lack of transparency in the use of petroleum products by the government authorities  and ministers as there are no records and system for regulating and controlling.    

I think this is just a publicity stunt, as after the rise, there will be a big chaos and the NOC, with its full consent will decrease the price by 50% and things will go aside. Most importantly the student political parties will have an issue to bargain and there will be some action for them. It's all political, I must say............. 

How can a commodity like petrol that you resell go in loss? I guess it's happening due to mismanagement or what if I say it's happening due to huge government misappropriation done by their staffs and ministers     

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