Oil import bill down by Rs15.36 billion. But there is little to cheer about

Nepal’s trade declined by 1.33 percent to Rs1.74 trillion, or by Rs23.50 billion, in 2023-2024.

Nepal’s petroleum imports dropped by 4.35 percent to Rs337.34 billion in the last fiscal year ended July 15, due to lower international rates. Official data showed that the country continues to be dependent on fossil fuel despite the surge in electric vehicles (EVs) and more electricity generation.