Skip to content
|Loading...
Share Gyan home
EBook

Transport Entrepreneurs Demand Fare Adjustment Following Fuel Price Hike

The Federation of Nepalese Transport Entrepreneurs (FNTE) has issued an ultimatum to the government: either implement a "scientific fare adjustment" or withdraw the recent hike in petroleum prices.

Published Updated By Share Gyan
Transport Entrepreneurs Demand Fare Adjustment Following Fuel Price Hike

The Federation of Nepalese Transport Entrepreneurs has expressed serious concern over the repeated increases in fuel prices by the Nepal Oil Corporation. Citing the impact of Middle East tensions on international oil markets, the Federation stated that the rising cost of diesel and petrol has made operating public and freight transport nearly impossible. General Secretary Deknath Gautam emphasized that under the "scientific fare determination" system established in 2008, fares must be adjusted automatically whenever fuel prices fluctuate by 5% or more.

The Federation has urged the government to honor this mechanism immediately, citing the price hikes on March 29 and April 15 as justification. In the meantime, transport operators have been advised to practice austerity, minimize fuel consumption, and coordinate service schedules based on passenger flow to reduce losses. The Federation warned that if the government ignores these demands for fare adjustment or price reversal, they will be forced to take stricter measures.

Related News

Nepal Rastra Bank Publishes Thursday's Foreign Exchange Rates; US Dollar at Rs. 149.61

Nepal Rastra Bank (NRB) has published the official foreign exchange rates for Thursday. The buying rate of one US dollar has been fixed at Rs. 149.61 and the selling rate at Rs. 150.21. The British Pound Sterling has recorded the highest value among the major currencies listed, with a selling rate of Rs. 200.16.

Gold Price Plunges by Rs. 5,900 Per Tola on Dhanteras; Silver Also Declines

Gold and silver prices recorded a sharp decline in the Nepali market on Friday, Kartik 20, coinciding with Dhanteras. Gold fell by Rs. 5,900 per tola to Rs. 283,000, while silver dropped by Rs. 110 per tola.

Nepal's VAT Collection Exceeds Target as Consumer Reward Scheme Boosts Tax Compliance

Nepal's VAT collection exceeded its first-quarter target in FY 2083/84, reaching Rs. 41.04 billion, up 10% compared to the same period last year. The increase comes after the Inland Revenue Department introduced a consumer reward scheme encouraging people to demand bills when making purchases.

Nepal Estimates $5 Billion Needed for Reconstruction After Bhotekoshi-Trishuli Disasters

Finance Minister Dr. Swarnim Wagle has estimated that Nepal will require approximately $4.7 billion to $5 billion for reconstruction following the disasters in the Bhotekoshi and Trishuli regions. The government is preparing a phased financing plan, including financial support from India, China, the World Bank and the Asian Development Bank (ADB).

Maya Khola Hydropower's Net Profit Surges 124.52% to Rs 6.38 Crore in Q1

Maya Khola Hydropower Company Limited (MKHC) has reported a 124.52 percent increase in net profit, earning Rs 6.38 crore in the first quarter of FY 2083/84, compared to Rs 2.84 crore in the same period last year. Higher electricity sales revenue and lower interest expenses supported the company's improved profitability.

Khani Khola Hydropower Turns Profitable, Reports Rs 3.65 Crore Net Profit in Q1

Khani Khola Hydropower Company Limited (KKHC) has made a remarkable financial turnaround, reporting a net profit of Rs 3.65 crore in the first quarter of FY 2083/84, compared to a net loss of Rs 1.89 crore in the same period last year.