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LP gas cylinder price reaches Rs 2130 per cylinder

The Nepal Oil Corporation (NOC) has hiked the price of LPG or liquefied petroleum gas to Rs. 2,130 per cylinder .
As per the new decision of the NOC board of directors, per cylinder would cost Rs 2,130 in the market against the existing price of Rs 1,470.
However, a meeting of the NOC board of directors decided to give to the domestic users a subsidy of Rs 550 per cylinder of the LP gas.
Executive Director of the NOC Suresh Agrawal said the users could claim the subsidy amount from the Bank of Kathmandu branches along with the LP gas consumer card and purchase bill.
However, the subsidy amount should be taken within two months of purchase of a gas cylinder. According to the NOC, it will continue to bear a loss of Rs 30 in each cylinder even after the implementation of the new pricing.
Agrawal said the NOC is likely to incur loss worth Rs 40 million each month.
Similarly, government revenue would be increased by Rs 100 million while the government provides Rs 400 grant assistance every month.

Published Date: Tuesday, February 12th, 2013 | 12:33 PM

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