April 18, 2024, Thursday
Nepal 1:37:26 pm

Govt. considering idea of two days holidays to reduce fuel consumption

The Nepal Weekly
April 19, 2022

Nepal government is considering to announce two days holidays in government offices with a view to reducing consumption of petroleum products thereby cutting foreign exchange expenses. Nepal Rastra Bank, the national bank of Nepal, and Nepal Oil Corporation have advised the government to give two days government holiday, according to cabinet sources.

As the price for petroleum products have sky rocketed in the international market, the government is mulling the idea to reducing the consumption of petroleum products with a view to save foreign currency reserve. If the decision to shut down government offices for two days in a week, it will significantly cut fuel consumption, which will give some relief to the Nepal Oil Corporation which is selling the petroleum products in subsidy thereby suffering a huge loss.

However, Government spokesperson Gyanendra Bahadur Karki has told media persons that the government has so far not take any decision in this regard. The proposal has come but it is under discussion, he told media. He also informed that the government is considering to reduce customs duty on the import of electric vehicles to reduce fuel consumption.

Nepal government is currently facing foreign currency crunch which is posing a threat to the national economy.