Nepal fuel crisis: India denies providing petrol on credit

India has denied reports that Indian Oil Corporation (IOC) has agreed to provide the Himalayan nation petroleum products on credit to overcome the ongoing fuel crisis. Utpal Parashar reports.

Updated on: May 7, 2011, 01:40:34 IST

Hindustan Times | By Utpal Parashar, Kathmandu

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India has denied reports that Indian Oil Corporation (IOC) has agreed to provide the Himalayan nation petroleum products on credit to overcome the ongoing fuel crisis.

Issuing a statement on Friday, the Indian Embassy here clarified that reports appearing in a section of Nepal media about IOC extending credit supply facility worth NRs 3 billion for two months are false.

It also termed news reports that IOC owes Nepal Oil Corporation, which has monopoly over import and supply of petrol products, NRs 14 billion as “baseless”.

“The Embassy would like to categorically state that both these statements are baseless,” the release stated.

Nepal has been reeling under a fuel crisis for the past three weeks dubbed the worst the country has witnessed since 1990. Non-payment of past dues worth over US $ 50 million by NOC to IOC has led the sole supplier of petroleum products cut down supplies sharply leading to the present crisis.

Unable to cope with it, the Nepal government had requested India to provide petrol products on credit for two months.

ABOUT THE AUTHOR
Utpal Parashar
A seasoned senior journalist, I have nearly three decades of experience across print, digital, and online platforms, covering political transitions, insurgencies, environmental issues, and development stories in India and Nepal. I am skilled in breaking news, leading editorial teams and launch of newspaper editions. I am adept at leveraging digital trends and social media to expand global reach, with a strong ethical foundation and a reputation for impactful journalism. An alumnus of Asian College of Journalism, I joined Hindustan Times in New Delhi as a trainee reporter in May 1997. Over the years, I have been posted in Dehradun, Kathmandu (Nepal) and Guwahati. Currently, as Senior Assistant Editor at Hindustan Times, I lead a team reporting on India’s northeastern states. My work involves in-depth analysis, and engaging multimedia storytelling across formats, including text, photo, video, and interactive content. I am skilled in producing timely, shareable content, leveraging digital platforms and social media to engage global audiences. Throughout my career with the Hindustan Times, I have led diverse editorial teams, designed capacity-building activities, and supported reporters in developing strong story ideas, ethical reporting practices, digital skills, and fact-checking techniques. As Senior Assistant Editor for Northeast India, I have been responsible for guiding correspondents through complex political, humanitarian, and community-level stories using multimedia formats. Earlier, as Foreign Correspondent in Nepal, I produced extensive reporting during Nepal’s democratic transition and the 2015 earthquake and its aftermath.Read More

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