The Government of Nepal has urged businesses and service providers to reduce prices of goods and services following a decline in petroleum prices, emphasizing the need to protect consumers from unreasonable pricing. In a press release dated Asar 19, 2083 BS, the Department of Commerce, Supplies and Consumer Protection stated that the ongoing conflict in the Middle East had contributed to rising fuel prices in Nepal. However, Nepal Oil Corporation subsequently announced a reduction in petroleum prices effective Asar 16, 2083 BS, prompting the department to call on businesses to reflect the lower costs in their selling prices.
The department has requested all sellers and service providers, particularly those dealing in essential food products and other necessary goods, to make their products and services available at affordable and reasonable prices. Citing Section 3 of the Consumer Protection Act, 2075, which safeguards consumer rights, the department reminded manufacturers, importers, distributors, sellers and service providers of their responsibilities to protect consumer interests. It also appealed to consumer rights organizations, industry and business associations, umbrella organizations and the general public to cooperate in ensuring fair market practices.
The press release emphasizes responsible pricing and uninterrupted access to essential supplies but does not announce specific price ceilings, mandatory percentage reductions or new penalties. The department’s appeal seeks to ensure that consumers benefit from declining petroleum prices and that businesses maintain fair pricing practices.
