Government to provide Rs 8 billion to NOC

KATHMANDU: The government has decided to immediately provide a loan of Rs 8 billion to the Nepal Oil Corporation (NOC).

The state-owned monopoly will get Rs 5 billion through VAT and tax and Rs 8 billion as a loan through Rastriya Banijya Bank.

Finance Secretary Madhu Kumar Marasini said that the Finance Ministry has decided to provide Rs 8 billion to the NOC.

The government has also decided to give the amount equal to the infrastructure and other taxes slashed by the Finance Ministry.