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26

Nepal Allows Private Companies to Petroleum Business

The cabinet on Friday has approved the draft of a bill

The government of Nepal has decided to allow the private sector to enter the petroleum business, The Himalayan Times daily reported yesterday.

The cabinet on Friday has approved the draft of a bill ?Petroleum Products Dealings Act-2063? to be presented in the House of Representatives soon.

Presently, the NOC has monopoly over the import of petroleum products with the private dealers involved in the sales and distribution under the corporation?s control.

The draft bill allows private companies to import and distribute petro products in Nepal.