The impending fuel crisis resulting from the protest programs announced by petroleum entrepreneurs have been put on hold for now after the government, falling for the pressure from petroleum dealers, agreed to postpone the implementation of a regulation that would have fostered competition in a monopolized petroleum business.

As reported by Republica, the agreement between the government and petroleum entrepreneurs was reached during a meeting chaired by Commerce and Supplies Minister Shankar Prasad Koirala in Kathmandu on April 5, Friday.

“The three protesting umbrella bodies the Nepal Petroleum Dealers National Association, the Nepal LP Gas Industries association and the Nepal Petroleum Transport Entrepreneurs Federation have agreed to withdraw their protest scheduled to begin on Sunday,” said the minute of the meeting.

Earlier, petroleum entrepreneurs had threatened to halt sales and supply of petroleum products across the country from Sunday to exert pressure on the government to withdraw the Order.