Kathmandu, March 31 Fuel and cooking gas shortages will be a thing of past in Nepal with locals of Mustang stumbling upon oil and natural gas reserves in their backyard. According to chief of Oil and Natural Gas Commission of Nepal’s research and development wing AP Oily, villagers of Lomanthang in the Upper Mustang region were digging a well when instead of water they found oily substance. Oily said when the member of parliament representing Mustang got wind of the discovery, he tipped off the NOC chief, who lost no time in sending Oily to the site where the well was being dug.   Oily was upbeat about the discovery. He said it was sure to boost not only Mustang’s economy by creating more jobs for the locals, but also the national economy, as Nepal will no longer have to depend on other countries to meet its fuel needs. In fact, Nepal can actually export fuel to both China, which is on the doorstep of Mustang, and India. NOC officials said they are holding talks with experts from Indian and Chinese oil corporations to set up a machinery to drill oil at the site. According to them, it will take about 12 months before petroleum products can be produced from the crude oil. Besides, the natural gas reserve — which geologists say is in abundance — can be supplied to the LPG-strapped capital city of Kathmandu as well as many other cities of Nepal, putting an end once and for all to the sight of gas cylinders lined up on the footpaths. Economists say this find can be a game-changer for Nepal. For one, revenue from export will now exceed the expenditure on import. In other words, Nepal will for the first time enjoy surplus in its balance of payments. While the country will rake in petro-dollars from the international market, the national price of petro-products could fall steeply leading to increased savings for consumers and greater government investment in development activities. One development expert, who preferred to remain anonymous put it this way: “With this find, the sun has begun to set on donor-driven development in the country. No more dictating the priorities of Nepal to the Nepalis.” Apart from this, the political fallout will be such that Nepal government will no longer have to play one neighbour’s card against another, say political analysts. As oil could very well put the country in a much more prominent position than it finds itself now. “All these point to only one thing: enhanced Gross National Happiness for the Nepali people,” said prominent economist Midas Shrestha. CNG taxis on cards KATHMANDU: Discovery of oil and natural gas reserves in Mustang means compressed natural gas will fuel the environment-friendly taxis, also bringing the fuel cost down, making the taxis affordable for all. In fact, road transport department is planning to phase out diesel guzzling buses and micro-buses and replace them with CNG-operated taxis that will carry more than one passenger on shared basis, as is the case in Gangtok. (Details here)