Performance of Nepal’s manufacturing sector improved during mid-April and mid-July: CNI report

KATHMANDU, Oct 2: Nepal’s manufacturing sector, which struggled for more than one year of the impacts of the coronavirus, was able to improve its performance in the fourth quarter of the last fiscal year.

A study report unveiled by the Confederation of Nepalese Industries (CNI) on Friday shows that the manufacturing industry was able to utilize 64.8 percent of their production capacity during mid-April and mid-July of the last fiscal year. In the period, manufacturers were able to increase their income by eight percent in contrast to a negative growth of 4.7 percent during the review period of 2019/20.

According to the report, 83 percent of the manufacturers have expressed their willingness to increase their investment citing a declining infection rate of the pandemic in Nepal. However, the cost of production of the industries has increased by 4.9 percent in recent times, according to the CNI study report.