Higher fuel taxes will hasten move to green energy, World Bank says

Nepal Oil Corporation currently sells petrol at a record high price of Rs160 per litre, out of which more than Rs60 goes to the government in taxes.

While calls are growing to give the Nepali people a break by cutting fuel taxes as they struggle to get back to their lives after the trauma of the pandemic, the World Bank has recommended a policy reversal to hasten the move to green energy: Remove subsidies and tax fuel.