NOC contributed Rs 97 billion to govt in last fiscal year

KATHMANDU: The state-owned Nepal Oil Corporation (NOC) has contributed Rs 97 billion in revenue to the government in the last fiscal year.

The government has collected a total revenue of Rs 97.20 billion from the NOC under various headings such as customs duty, road maintenance tax, income tax, infrastructure tax, pollution fee and value added tax.

In the last fiscal year 2020-2021, as the NOC imported goods such as cooking gas, aviation fuel, diesel, petrol, kerosene etc and sold them in the domestic market, it contributed the afore-mentioned amount of revenue. NOC is the biggest contributor to the government’s total revenue.

The government had collected a total revenue of Rs 938.32 billion last year. Fuel alone contributes 10.35 percent to the government’s annual revenue collection.