Fuel costs to be reduced by 20 percent by end of Ashar

KATHMANDU: APRIL. 18 – By the end of Ashar, the government intends to reduce fuel costs by 20%. Expenditure on fuel by government ministries, various agencies and public institutions will be reduced by 20 percent by end of Ashar.

On Monday, the Ministry of Finance issued a notice stating that fuel expenditures should be reduced by 20% by the end of Ashar.

The Council of Ministers decided on April 13 to reduce fuel expenditure as remittances were declining in the country, the trade deficit was growing, and foreign exchange reserves were shrinking.

According to the ministry, this provision will also apply to officials who use the fuel expenditure facility under a separate act. However, the ministry stated that fuel expenditures for development projects, peace and security, essential services, and local evacuation would not be reduced.

The ministry also stated that the central body, all constitutional bodies, the Prime Minister’s Office in the case of states, and the Ministry of Federal Affairs in the case of local governments would oversee the implementation of the fuel cost reduction agreement.