Nepal Oil Corporation (NOC) and Food Management and Trading Company (FMTC)
Title
Nepal Oil Corporation (NOC) and Food Management and Trading Company (FMTC)
Details
Nepal Oil Corporation (NOC)
Established: 1970 (2027 BS) under the Companies Act as a state-owned enterprise.
Mandate: Sole importer, storer, and distributor of petroleum products (petrol, diesel, kerosene, aviation fuel, and LPG) in Nepal.
Supply Partner: Imports all petroleum products from the Indian Oil Corporation (IOC) under a long-term bilateral agreement.
Food Management and Trading Company (FMTC)
Note: Formed in 2019 (2076 BS) by merging the former Nepal Food Corporation (NFC) (established 1974) and National Trading Limited.
Mandate: Ensures food security by maintaining strategic food reserves, purchasing food grains from farmers at support prices, and distributing subsidized food to remote and food-deficit districts.