Oil Corporation increasingly anxious about piling debt to its Indian supplier

Near bankruptcy, public utility has outstanding payment dues worth Rs22 billion and the sum is expected to rise.

Nepal Oil Corporation has about Rs22 billion in outstanding dues to be paid to the Indian Oil Corporation as of June 23. With the government not implementing its own decision of compensating the state-owned oil monopoly for reduction of fuel prices so far, officials at the corporation expect the dues to rise in the days to come.