fuel crisis in nepal: As India curtails oil supplies to Nepal, financially bankrupt Nepal Oil Corporation (NOC) has
sought a Nepali Rs one-billion loan from its government to partially clear the mounting dues. In a letter to ministries of supplies and finance, the
state-owned company requested for funds to avert a possible oil crisis in the country. NOC, in the letter, said due to huge losses, it failed to make
payments to its supplier, the Indian Oil Corporation (IOC), for the month of August. "Given the delay in payment, the supplier has stopped issuing oil
on credit and reduced supplies sharply. If normal supply is not resumed it will lead to a severe oil crisis in the country," it said. For the month of
August NOC had asked IOC for petroleum products worth Nepali Rs 3.44 billion.
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