Nepal and China to sign fuel agreement in ‘few days’, Indian monopoly to formally end

In a country where politicians make truckload of insincere statements everyday, people are naturally inclined to disbelieve what the government promises. When Nepalese ministers vowed to import fuel from China to teach mighty India a lesson, many said ‘at long last’ but equally many said ‘only in words, you will go back to India tomorrow’.

That doubt will end formally today as a group of Nepalese officials land in the communist nation to ink a bilateral petro-agreement.

“Two representatives from Nepal Oil Corporation (NOC) along with officials from the Ministry Commerce and Supplies will leave for China tomorrow. The agreement will be signed within a few days,” managing director of NOC Sushil Bhattarai was quoted as saying by Xinhua news agency.

As the information comes from the Chinese state media, there could not be a better source of verification of what the Nepalese commerce ministry is up to.

Whether the ministry wanted to do it or the people pressure made it enter a formal agreement is immaterial now because Nepal is in the final hours of ending a long running monopoly of the Indian Oil Corporation.  It has already signed a memorandum of understanding with China to import petroleum products equivalent to one third of its total industry volume.

It is understood the two sides are yet to finalise pricing, supply mechanism, routes (Nepal told China it prefers Tatopani border point) which is expected to happen during the visit of the delegation.

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