channelnewsasia.com - Nepal capital brought to standstill by fuel protest
   
 
  blogs  
 
yournews
   
   
 
Video Finance Lifestyle Travel Weather Discussion TV Shows
CNA Live    | About Us 
 
  Home ›
 
Business News

 
 

Nepal capital brought to standstill by fuel protest
Posted: 26 June 2008 1524 hrs

 
 
Photos  of

   
 

KATHMANDU: Nepal's capital was at a virtual standstill Thursday, after political parties called for a general strike to protest against recent fuel price hikes.

"Markets, schools and businesses are all shut due to the strike, and traffic is very thin," Kathmandu police chief Sarbendra Khanal told AFP.

Nepal's state-run fuel supplier hiked prices by up to 27 per cent earlier this month to keep pace with rising global crude prices.

"We want the government to withdraw this price rise as it has given ordinary people a massive burden," said Ram Singh Shrestha from the Communist Party of Nepal, one of the four fringe parties that called for the shutdown.

Nepal has no oil reserves, and relies on southern neighbour India for all of its fuel supplies. Prior to the hike, the Nepal Oil Corporation has been selling fuel at a loss for years, building up millions of dollars in debt. - AFP/jk

 

 



Other business News
Obama touts Asia trade to create jobs
EU criticises financial pledges to GM Europe
Dutch workers protest pending retirement age rise
Thousands of Spanish farmers protest low prices
Turkey sticks to nuclear power plan
Austria in talks with Russia over South Stream
India says no rice imports for now
Australia executives suspended over banknote probe
First Air France A380 reaches New York
Wall Street down on technology jitters
US dollar strengthens on risk aversion
Oil prices wobble on recovery concerns

 

 
Affiliate Sites:
 
About Us  |  Contact Us  |  Advertise with Us  |  Terms & Conditions