Kathmandu, November 19. A team of Nepali officials is leaving for China on Friday to sign a commercial agreement for import of fuel from China. The team comprises Nepal Oil Corporation and Commerce and Supplies Ministry officials.
Joint secretary at the ministry, Shambhu Ghimire, said they are yet to select the team that will visit China.
The team will sign a commercial fuel purchase deal with officials of the China National Petroleum Corporation. Nepali officials have already signed a memorandum of understanding with Chinese officials on import of fuel from China.
The team will sign a commercial fuel purchase deal with officials of the China National Petroleum Corporation. Nepali officials have already signed a memorandum of understanding with Chinese officials on import of fuel from China.
The upcoming agreement will put an end to Indian monopoly in the Nepali fuel market. The commercial deal will specify details like fuel prices and quality. China is positive on providing fuel at rates at which Nepal has been purchasing fuel from India.
NOC said the deal will also specify the quantum of fuel that China will provide through northern customs and visa arrangements for tanker drivers, among others.
The state-run fuel monopoly is making preparations to bring 33 per cent of fuel it requires from China, which recently provided 1,300 KL petrol as assistance.
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