The mainly-student demonstrators blocked traffic, damaged several vehicles, and confronted police

Kedar Prasad Giri was on his way to the supreme court on Thursday when protestors, who had blocked several streets in Katmandu, hurled stones at his vehicle.
 
The demonstrators, mainly students, blocked traffic, damaged several vehicles, and confronted police.

They demanded that the government immediately withdraw the increases on petrol, diesel and cooking fuel and reverse a recent decision to let public transport fares rise by up to 35 per cent.
 
Police pushed back the protesters and Giri's guards safely removed him from the car.

Giri was unhurt, but his vehicle was damaged, Sarvendra Nath Khanal, Katmandu police chief, said.

Soaring prices

Nepal Oil corporation, the state-owned oil import and distribution monopoly, raised oil product prices last week, saying it was necessary to reduce its losses and increase supplies.

The pump price of petrol rose by 25 per cent to $5.70 per gallon, while diesel went up 25 per cent to $3.80 a gallon.

Nepal Oil said it had recently been losing up to $39 million per month due to the rapid rise in global oil prices.

The company predicted the retail price increases would reduce its monthly losses to about $25 million.

Recommend this article...

Did you enjoy this article? Please bookmark it onto: