Jul 1,  Kathmandu:  Nepal has started informal talks with India to buy cheap petroleum products. Following the impact on the overall economy due to the high prices of petroleum products, the government has started informal talks with India to buy cheaper fuel said by Ganesh Prasad Pandey.

Secretary Pandey said the talks were held on the assumption that India can supply such fuel to Nepal as it is buying cheaper fuel from Russia and other countries. “It is not a mature subject. We are using unofficial channels,” Pandey said. If this can happen, the country will be greatly relieved.

Pandey also said that the government is doing more to check the impact of fuel prices on the overall economy. The country has been battling a sharp rise in refined fuel prices since January 2020 due to the rise in crude oil prices in the international market. With the rise in fuel prices and rising prices of daily necessities and services, inflation has hit a six-year high.

Nepal Oil Corporation’s loss due to high fuel prices has exceeded Rs 10 billion in 15 days. The dues of the Indian Oil Corporation corporation for buying oil are also increasing. According to the latest details of the corporation, such arrears have reached Rs 23 billion.