Nepal, July 3 -- The role of biofuel has become critical in energy transformation, with increased international action to address climate change and to provide sustainable energy sources. Derived from organic materials like crops, crop residues and waste products, biofuels are a sustainable energy source compared to fossil fuels, particularly for transport.

For Nepal, a country dependent on imported fossil fuels, biofuel is not only an environmental need but also an economic one. As per the information from the Trade and Export Promotion Centre, during the fiscal year 2023-24, Nepal imported petroleum products worth around Rs354 billion, representing close to 19 percent of the country's total national imports, a drop from Rs397 billion i...