Finance Minister Wagle stressed that even though the price has decreased in the international market, there is no way to reduce its price as the fuel is yet to arrive in Nepal through the Indian Oil Corporation.
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Finance Minister Swarnim Wagle has said that the prices of diesel, petrol and other fuels, which have increased due to the Middle East conflict, will now decrease.
While answering questions raised by lawmakers on the Finance Bill, 2083 in the House of Representatives meeting on Sunday, he said that since the conflict in the Middle East has eased, the prices of these items will also decrease.
Finance Minister Wagle insisted that even if the prices have decreased in the international market, there is no way to reduce the prices of these fuels as they are yet to arrive in Nepal through the Indian Oil Corporation.
'The problem that was seen in the Middle East. Due to this, to reduce the burden on the common consumer due to the increase in the prices of these fuels, within two weeks of becoming the Finance Minister, we gave a 50 percent discount on the customs duty on the import of diesel, petrol and kerosene and the infrastructure development tax on diesel and petrol. And now the situation in the Middle East is getting easier. Now there is a time lag. Crude prices have already decreased. But that process fuel, which we have been importing through the Indian Oil Corporation, will take some time to adjust and come to Nepal,' he said.
