Kathmandu, January 9:

Maoist members of the parliamentary Labour and Industrial Relations Committee, taking part in a meeting of the committee today said they are against the privatisation of the Nepal Oil Corporation (NOC).

The committee held a clause-wise discussion on a draft bill that is to make laws to regulate petroleum trade in the country.

Janamorcha Nepal MP Ganesh Sah, who is also a member of the committee, said the Maoists did not want the NOC privatised because petroleum trade, “a very sensitive matter,” cannot be left to the private sector. He said the Maoists are against allowing private parties to import petroleum products because of the sensitive nature of petroleum trade.

Sah said the Maoists had no objection to the government’s plan to divest shares of the NOC. He said the government should own at least 10 per cent shares of the company that is allowed to import petroleum products. Other government-owned companies can be set up to import petroleum products, he said.

However, another member of the committee Chuda Mani Jungalee said petroleum trade will not be competitive without the involvement of the private sector.

At the meeting, Minister for Industry, Commerce and Supplies Shyam Sundar Gupta said the petroleum bill should be passed because there is no law to govern petroleum trade.

The passage of the bill will promote competition, he said. The discussion will be continued tomorrow.