DANG, April 6: More than 200 industrial units and firms have closed down in Dang in the last eight months of the current fiscal year 2022/23. The industrial units were registered with the Cottage and Small Industries Office and the business firms with the District Commerce Office.

Office Chief Lal Bahadur Gurung said among the industries and firms that have shut down, 130 are industrial units while 143 are trade and commerce companies.

According to Gurung, most of the proprietors of these industries and firms cited financial loss, difficulty in running business as family members have migrated abroad and some were preparing to leave the country as the reasons for the closure.

Gurung said that his office has started exploring the reasons behind the closure of the business firms. "Before this, we used to orally ask the proprietors the reason for closing down business. Now we have started seeking the reason in writing," said Gurung.

Tanka Singh Budhathoki, president of the Dang District Chambers of Commerce and Industry, said the trend of entrepreneurs and businessmen closing their enterprises has increased due to several problems and difficulties.

“The trend of industrialists and businessmen leaving their profession is increasing day by day,” he shared, adding that this is due to the impact of COVID-19, economic slump and increase in house rent and bank interest rate, among other factors.

Budhathoki fears that more and more industrial units and businesses might close down in the coming days if the government did not intervene in time to address the problems in the sector.

"Trade and commerce has been decreasing day by day. Banks’ interest rates have risen. This situation has brought multiple problems for the sustainability of the industries and businesses," he explained.

More than 200 shutters are vacant in Ghorahi alone and this is increasing. Same is the case in Tulasipur. General Secretary of Tulasipur Chamber of Commerce and Industry, Binil KC, said the trend of entrepreneurs abandoning their businesses has also increased in Tulasipur, another trading town in Dang.

According to him, more than 100 entrepreneurs in the town have abandoned their businesses.

The same trend is seen in Deukhuri as well, according to Khageshwar Khanal, president of Deukhuri Chambers of Commerce and Industry.

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