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Govt. sanctions Rs 2.1 bln loan to NOC

KATHMANDU: The government has decided to provide loan assistance of Rs. 2.1 billion to Nepal Oil Corporation (NOC) for easing the supply of petroleum products.

A meeting of the Council of Ministers took this decision. As per the decision, the Finance Ministry will contribute Rs. 500 million, the Employees’ Provident Fund Rs. 600 million and the Citizen’s Investment Fund Rs. 1 billion as loan to NOC.

Briefing about the decisions taken by the meeting, Minister Barshaman Pun said it also decided to provide financial assistance of Rs. 850,000 to the dependant families of Krishna Bahadur Tamang, Bir Bahadur Tamang and Man Bahadur Tamang who died in a bomb explosion that took place in front of the NOC at Babarmahal in Kathmandu on February 17, 2012.

The government also decided to waive off the customs and excise duty imposed on a land cruiser vehicle which the United Nations Office of the High Commissioner for Human Rights (OHCHR) is to provide to Nepal Bar Association.

He said the government has also decided to send Vice Chairman of the National Planning Commission (NPC), Dipendra Bahadur Chhetri, to participate in the meeting of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) to be held in Bangkok, Thailand.

Minister Pun also said other important agenda of the meeting have been postponed to be taken up by the next meeting of the Council of Ministers. RSS

Published Date: Monday, May 14th, 2012 | 10:38 PM

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