NOC lured into bonus while debt is pending

Kathmandu February 23- Though, price of crude oil in the international market has continued to fall; Nepal Oil Corporation has not reduced the price in domestic market. NOC has been gathering profit in bonus account occurred from higher price on petrol, diesel and kerosene in the name of paying old debts which has adversely hit consumers.

NOC is prohibited from distributing bonus until it fully pay government debt worth of Rs. 12 billion 640 million. Therefore, NOC has set aside 10% profit from last year and current half year   in the heading of bonus. As soon as, NOC pay the debt, it will distribute bonus.

NOC claims to pay the total debt within a year after which millions of amount will be credited to employee's account. While NOC has reserve only a moderate amount for payment and interest of the debt, it has set aside a larger portion on profit heading which shows that NOC has deep affection on bonus.