Kathmandu: Nepal Oil Corporation has reduced the price of air turbine fuel (ATF) towards international sector. The airline companies had complained earlier saying that the competitiveness of the airlines operating from Nepal is low due to the high price of international ATF.

Accordingly, the decision has been taken after discussions between the Ministry of Culture, Tourism and Civil Aviation, Ministry of Industry, Commerce and Supplies, Nepal Oil Corporation and Civil Aviation Authority of Nepal.

The corporation has decided to reduce the ATF price by 20 percent with effect from 12 noon on Sunday.

Accordingly, the price of ATF has now dropped to USD 715 per kiloliter internationally. The corporation has decided to reduce the price by USD 178 per kiloliter.

With the decision of the Nepal Oil Corporation, the widebody fare of the Nepal Airlines Corporation has been reduced by 13 percent and the narrowbody fare by 15 percent, according to the Nepal Airlines Corporation.