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Fuel shortage in Nepal won’t end immediately

Nepal Oil Corp. (NOC) said that the petroleum shortage seen across the country would ease, but that things wouldn’t return to normal immediately. NOC Spokesperson Mukunda Dhungel. said that due to rampant hoarding, there has been an acute shortage across the country although NOC had been delivering fresh supplies regularly. The capital has witnessed long queues of motorists outside gasoline stations for three consecutive days as supplies have run short. The government has decided to provide an Rs800 million (US$17.11 million) grant to NOC to pay for the company’s outstanding debts to India Oil Corp. (IOC), which has curtailed shipment in recent days. (July 1, 2010)