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<p style="text-align: justify;">“Private sector will be allowed to carry out long term fuel trading only after formulating petroleum law,” said Ananda Ram Regmi, Spokesperson of Supply Ministry. For that matter, Ministry is preparing Petroleum and Gas trading Bill-2073 at present. “Preparation for formulation of the Petroleum Act has already been started. Now, the issue of petroleum trading will take a lead only after implementation of Petroleum Act,” he added.</p>
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<p style="text-align: justify;">“Private sector will be allowed to carry out long term fuel trading only after formulating petroleum law,” said Ananda Ram Regmi, Spokesperson of Supply Ministry. For that matter, Ministry is preparing Petroleum and Gas trading Bill-2073 at present. “Preparation for formulation of the Petroleum Act has already been started. Now, the issue of petroleum trading will take a lead only after implementation of Petroleum Act,” he added.</p>
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<p style="text-align: justify;">“Private sector will be allowed to carry out long term fuel trading only after formulating petroleum law,” said Ananda Ram Regmi, Spokesperson of Supply Ministry. For that matter, Ministry is preparing Petroleum and Gas trading Bill-2073 at present. “Preparation for formulation of the Petroleum Act has already been started. Now, the issue of petroleum trading will take a lead only after implementation of Petroleum Act,” he added.</p>
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July 22: Cabinet of Ministers has terminated a decision of allowing private sector firms to carry out petroleum product supply in the country on Wednesday. Earlier, supply ministry had granted permission for the long term fuel (petrol, diesel, kerosene and gas) supply to 9 private companies under Petroleum and Gas Transaction (regulatory) order, 2069. Meeting of Petroleum and Gas Transaction Management and Regulatory Committee formed under Petroleum and Gas Transaction (regulatory) order had given permission to 9 different private companies on July 5 for the constructions of first phase infrastructure required for long term fuel supply and trading.
The companies those got the permission were Birat Petroleum, Sonapur Mineral and Oil, Himalayan Enterprises, Trans Himalayan, Petrolimax, BB Petroleum, National Petroleum, Malika Petroleum and Abhinas Energy. Among them, Abhinas Energy got approval for gas trading only and Malika Petroleum and Petrolimax got approval for both petroleum and gas. More than 14 companies had applied for permission of petroleum trading.
“Private sector will be allowed to carry out long term fuel trading only after formulating petroleum law,” said Ananda Ram Regmi, Spokesperson of Supply Ministry. For that matter, Ministry is preparing Petroleum and Gas trading Bill-2073 at present. “Preparation for formulation of the Petroleum Act has already been started. Now, the issue of petroleum trading will take a lead only after implementation of Petroleum Act,” he added.
Meanwhile, traders has criticised the government’s move and blamed the government of discouraging them. Deepak Timilshina, Chairman of Malika Petroleum said “The government decision is disappointing as the plan, detail design, land acquisition and contractor had already been finalised for infrastructure construction. Work had been conducted in order to conclude the construction within next 6/7 months. The cabinet’s decision has pushed the investment of the company to the edge.” According to him, Rs 1 billion has already been spent for infrastructure construction. The company had got permission for both petroleum and gas trading. He also informed of forwarding infrastructure construction at Birgunj, Biratnagar and Dhading.
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<p style="text-align: justify;">“Private sector will be allowed to carry out long term fuel trading only after formulating petroleum law,” said Ananda Ram Regmi, Spokesperson of Supply Ministry. For that matter, Ministry is preparing Petroleum and Gas trading Bill-2073 at present. “Preparation for formulation of the Petroleum Act has already been started. Now, the issue of petroleum trading will take a lead only after implementation of Petroleum Act,” he added.</p>
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<p style="text-align: justify;">“Private sector will be allowed to carry out long term fuel trading only after formulating petroleum law,” said Ananda Ram Regmi, Spokesperson of Supply Ministry. For that matter, Ministry is preparing Petroleum and Gas trading Bill-2073 at present. “Preparation for formulation of the Petroleum Act has already been started. Now, the issue of petroleum trading will take a lead only after implementation of Petroleum Act,” he added.</p>
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'summary' => 'July 22: Cabinet of Ministers has terminated a decision of allowing private sector firms to carry out petroleum product supply in the country on Wednesday. Earlier, supply ministry had granted permission for the long term fuel (petrol, diesel, kerosene and gas) supply to 9 private companies under Petroleum and Gas Transaction (re',
'content' => '<p style="text-align: justify;">July 22: Cabinet of Ministers has terminated a decision of allowing private sector firms to carry out petroleum product supply in the country on Wednesday. Earlier, supply ministry had granted permission for the long term fuel (petrol, diesel, kerosene and gas) supply to 9 private companies under Petroleum and Gas Transaction (regulatory) order, 2069. Meeting of Petroleum and Gas Transaction Management and Regulatory Committee formed under Petroleum and Gas Transaction (regulatory) order had given permission to 9 different private companies on July 5 for the constructions of first phase infrastructure required for long term fuel supply and trading.</p>
<p style="text-align: justify;">The companies those got the permission were Birat Petroleum, Sonapur Mineral and Oil, Himalayan Enterprises, Trans Himalayan, Petrolimax, BB Petroleum, National Petroleum, Malika Petroleum and Abhinas Energy. Among them, Abhinas Energy got approval for gas trading only and Malika Petroleum and Petrolimax got approval for both petroleum and gas. More than 14 companies had applied for permission of petroleum trading.</p>
<p style="text-align: justify;">“Private sector will be allowed to carry out long term fuel trading only after formulating petroleum law,” said Ananda Ram Regmi, Spokesperson of Supply Ministry. For that matter, Ministry is preparing Petroleum and Gas trading Bill-2073 at present. “Preparation for formulation of the Petroleum Act has already been started. Now, the issue of petroleum trading will take a lead only after implementation of Petroleum Act,” he added.</p>
<p style="text-align: justify;">Meanwhile, traders has criticised the government’s move and blamed the government of discouraging them. Deepak Timilshina, Chairman of Malika Petroleum said “The government decision is disappointing as the plan, detail design, land acquisition and contractor had already been finalised for infrastructure construction. Work had been conducted in order to conclude the construction within next 6/7 months. The cabinet’s decision has pushed the investment of the company to the edge.” According to him, Rs 1 billion has already been spent for infrastructure construction. The company had got permission for both petroleum and gas trading. He also informed of forwarding infrastructure construction at Birgunj, Biratnagar and Dhading.</p>
<p style="text-align: justify;">Stakeholders believed that the permission granted to private sector for petroleum products trading would benefit consumers due to increase in competition. Presently, Nepal Oil Corporation is a sole supplier of petroleum products in Nepal. However, termination of the earlier decision indicates that the government does not want to end monopoly of the government owned NOC.</p>
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