KATHMANDU, July 29: The industrial environment in Makwanpur, the district serving as the capital of Bagmati Province, has declined in recent years. Subsequently, the registration of new industries has dropped while the number of shutdowns has also increased significantly.
According to the Chief of the Industry and Commerce Office, Makwanpur, Ram Prasad Bhusal, a total of 418 new industrial enterprises were registered in the district during the Fiscal Year (FY) 2024/25 along with 260 new commercial enterprises. In contrast, 281 industrial and 361 commercial enterprises were shut down in the same period.
In the previous FY 2023/24, 366 new industrial enterprises and 335 commercial enterprises were registered. The numbers were 579 and 430 in FY in 2022/23 and 2021/2022, respectively.
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Meanwhile, 268 industrial and 336 commercial enterprises were closed in FY 2023/24, while the number of total closures stood at 283 in 2022/23. These figures highlight a growing trend of business shut down in recent years.
Several factors have been identified for the increasing number of business shutdowns. These include the registration of enterprises merely to access grants from various agencies, the use of company registration to show capital for sending family members abroad, trade losses, and the dual registration processes at the local level.
As a result, the revenue collected by the Office from business registration and renewal has also declined. In the fiscal year 2024/25, revenue collection dropped by Rs 6.1 million compared to the previous year, amounting to Rs 26.08 million.
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