Nepal Oil gets $18 million fuel subsidy

The Nepal government has decided to provide Rp800 million (US$18.8 million) to state-owned Nepal Oil Corporation (NOC) to ease the supply of petroleum products. NOC had requested for a Rp2.07 billion (US$48.6 million) subsidy. As the price of petroleum products has continued to rise in the international market, NOC has demanded that either the government provide it with subsidy or the government allow it to raise fuel prices. (May 14, 2008)